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iFast surges 11.3% after strong Q2 net profit

iFast surges 11.3% after strong Q2 net profit

By Kim Browne

Culture

Shares of iFast surged just minutes after market open on Monday (Jul 28), after the digital bank and wealth management platform reported a strong second-quarter net profit on Friday.

The counter soared to S$8.16 as at 9.02 am, with 986,600 shares changing hands. It was up S$0.74 or nearly 10 per cent from its closing price of S$7.42 on Friday.

It hit an intraday peak of S$8.26 – 11.3 per cent higher than its last close – at 4.30 pm, with a trading volume of 7.1 million shares.

The counter ended the day at S$8.17, up 10.1 per cent, with 7.5 million shares transacted.

The company on Friday reported a net profit of S$22.1 million for Q2 FY2025, up 37.9 per cent from S$16 million in the same period last year.

Earnings per share were up at S$0.0731 from S$0.0538 for the corresponding period.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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