On 23rd July, Singapore-listed financial services platform iFAST announced its 2nd quarter results. It has been a while since I looked at their results, so I decided to collect some of my thoughts. At the current price of $3.99, iFAST trades at a market capitalisation of $1.17 billion. Based on the historical net profit of $17.5 million, iFAST currently trades at a price-earnings of 66.8 times. iFAST is not trading at a cheap valuation. However, if the company sets itself up nicely, future profit growth might justify such a lofty valuation.

iFAST Goes into Negative Profit Territory

The group’s assets under administration (AUA) dropped 5.1% if we measure quarter by quarter but increased year on year by 0.8%. Net profit edged into negative territory due to a one-off $5.2 mil impairment at their India associate. The securities and exchange board of India (SEBI) has released a circular to disallow...