iFast’s 2QFY2024 net profit formed 54% of Choong’s FY2024 estimates.
iFast Corporation’s earnings for 2QFY2024 ended June 30 beat CGS International’s expectations with stronger Singapore inflows and trading volumes, coupled with a narrower loss from its UK digital banking operations.
The wealth management platform operator posted 2QFY2024 patmi of $16 million, up 11% q-o-q and a staggering 346% y-o-y from just $3.6 million in 2QFY2023. This is 15% above CGS International (CGSI) analyst Andrea Choong’s forecast and 11% above Bloomberg consensus.
