Shares & Derivatives
iFAST is Firing on All Cylinders: 5 Highlights from the FinTech Company’s Latest Earnings
By The Smart Investor  •  July 27, 2021
iFAST Corporation Limited (SGX: AIY) has seen its stock price surging to a new all-time high of S$9.65 recently. The financial technology (fintech) company had reported strong growth over the past year due to a strong inflow of funds amid a pandemic. The group recently announced its fiscal 2021 second quarter (2Q2021) results, and the numbers did not disappoint. The fintech outfit enjoyed broad-based growth across all its divisions and its CEO, Lim Chung Chun, remains optimistic about the group’s future. Here are five highlights from iFAST’s latest earnings report that investors should take note of. Growth in net profit and margins For the quarter, the group’s net revenue surged by 32% year on year to S$26.2 million. Operating profit increased by 46% year on year to S$8.4 million, while net profit surged by 55% year on year to S$7 million. Net margin (as a percentage of net revenue) improved from 22.8% to 26.8%....
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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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