ePension segment impact on earnings
A picture speaks a thousand words. With a full quarter of contributions over the next few months, fourth quarter 2023 earnings could even be 50% higher quarter on quarter! Let me explain my thinking. Management is aiming for the HK segment to hit S$18m (HK$100m) pretax profit (PBT) for 2023 but earnings should surprise on the upside because their targets are very conservative. 3Q23 Hong Kong PBT was S$7m with only 1 month of ePension contributions, 9M23 Hong Kong PBT was S$11m 2023 Hong Kong...Disclosure: I own shares of iFAST and this post isn’t investment advice. “Going forward, the Group expects its overall revenue and profitability to show marked improvements”. iFAST’s stellar 3Q 2023 results marks a new era of hyper-growth. Net profit grew 303% year on year and 100% quarter on quarter after receiving only 1 month of Hong Kong ePension contributions.
