Home Capital Results

iFAST posts 42.5% lower 1Q earnings of $1.5 mil on revenue decline

Michelle Zhu
Michelle Zhu4/28/2019 12:54 AM GMT+08  • 3 min read
iFAST posts 42.5% lower 1Q earnings of $1.5 mil on revenue decline
SINGAPORE (April 28): iFAST Corporation has reported $1.5 million in earnings for the 1Q ended March, down 42.5% from $2.7 million in 1Q18 due to lower revenue.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (April 28): iFAST Corporation has reported $1.5 million in earnings for the 1Q ended March, down 42.5% from $2.7 million in 1Q18 due to lower revenue.

This comes after an extended period of poor financial market conditions over 2H18, which resulted in a weak January and February 2019 in terms of both revenue and profitability, says the group in a press statement on Saturday

Revenue for the quarter fell 12.2% y-o-y to $27.2 million from $31 million previously as contributions from the Business-to-Business (B2B) business segment registered a decline, impacted by lower customer investment subscriptions in unit trusts (UTs) due to weak investor sentiment in equity markets.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now