Last year, iFAST Corporation Limited (SGX: AIY) reported a strong set of earnings after receiving a huge boost from its Hong Kong ePension contract. For 2024’s first quarter (1Q 2024), the fintech saw its net profit jump sharply with continued contributions from its Hong Kong division. More importantly, the group upped its interim dividend by 30% year on year. Here are five things that investors should know about the fintech’s latest results.

A sparkling set of results

Revenue soared by 59.4% year on year to S$86 million. Total operating expenses climbed by 46.8% year on year leading to operating profit leaping by more than four-fold year on year from S$4 million to almost S$18.5 million. As a result, net profit soared 387% year on year to S$14.5 million. The strong increase in profitability was attributed to contributions from the Hong Kong ePension business along with improvements in the group’s core wealth management platform business. iFAST declared an interim dividend of S$0.013, 30% higher than the...