This is 15% above CGS International (CGSI) analyst Andrea Choong’s forecast and 11% above consensus. iFast’s 2QFY2024 net profit also formed 54% of Choong’s FY2024 estimates.
Wealth management platform operator iFast Corporation’s 2QFY2024 ended June 30 earnings were a strong beat thanks to stronger Singapore inflows and trading volumes, coupled with a narrower loss from UK digital banking operations.
iFast announced on July 25 its 2QFY2024 patmi of $16 million, up 11% q-o-q and a staggering 346% y-o-y from just $3.6 million in 2QFY2023.
