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Hong Kong contribution prompts higher target prices for iFast

The Edge Singapore
The Edge Singapore • 3 min read
Hong Kong contribution prompts higher target prices for iFast
Photo: Samuel Isaac Chua
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Analysts are generally positive following iFast Corp's 3QFY2023 earnings, given its improving operating metrics.

On Oct 25, iFast reported earnings of $8.52 million, up 308.4% y-o-y. Revenue in the same period was up 23.8% y-o-y to $66.22 million, with key contributions from its ePension project in Hong Kong. The company's core wealth management platforms generated growth as well.

In line with its tradition of paying out quarterly dividends, iFast has declared an interim dividend of 1.3 cents per share, held steady from this time last year.

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