Shares & Derivatives
5 Things You Should Know About iFAST’s Record-Breaking Quarter
By The Smart Investor  •  October 26, 2020
Last Friday, iFAST Corporation Limited (SGX: AIY) released its third-quarter 2020 earnings report. There is good reason to pop the champagne as the financial technology (fintech) company reported a stellar set of numbers. To recap, iFAST is a wealth management fintech platform that allows its clients to buy and sell a variety of financial securities such as unit trusts, bonds and equities. The group was incorporated in 2000 and as at end-September 2020, offers access to 11,000 investment products. It operates in five countries: Singapore, Malaysia, Hong Kong, China and India. Here are five things you should know about iFAST’s latest record quarter. Operating leverage For the third quarter, iFAST reported a 35.7% year on year jump in net revenue. Meanwhile, operating profit soared 164% year on year from S$2.8 million a year ago to S$7.4 million in the reporting quarter. Net profit attributable to shareholders more than doubled from S$2.5 million to S$6.2 million....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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