UOB Kay Hian's Q3 profit falls 26% on low trading volumes

BROKERAGE UOB Kay Hian's third-quarter net profit fell 26 per cent to S$14.7 million from a year earlier, as trading volumes in the major regional markets it operates in remained low.

Commission income in the three months to Sept 30, 2016, fell 11.8 per cent to S$51.2 million. Interest income dropped 6.4 per cent from a year earlier to S$19.6 million, on lower financing activities.

Other operating revenue grew 11.7 per cent to S$5.9 million, with higher corporate finance activities.

Earnings per share were 1.87 Singapore cents, down from 2.56 Singapore cents a year earlier.

UOB Kay Hian shares closed unchanged at S$1.31 on Tuesday.