Freedom Holding Corp. (USA) announces Q2 2020 fiscal year financial results

13.11.19, 15:09
/KASE, November 13, 2019/ – Freedom Holding Corp. (Salt Lake City), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following information statement: quote Freedom Holding Corp. (hereinafter referred to as the Holding), a leading retail broker and investment bank in Central Asia, reports the financial performance for the second quarter of the fiscal year of 2020, which ended on September 30, 2019. Key figures for this period: 1) Revenue in the amount of $ 33 million increased by 89% or $ 15.6 million QoQ on account of: a) the increase in the commission income for Q2 by 106% or $ 13.6 million; b) the increase in the income from foreign currency transactions for the amount of $2 mln compared to the similar period of the last year. 2) Expenses increased by $6.4 million or by 42% due to the following: a) increase in commission expenses by $3.5 million due to the rise in the number of clients and the volume of transactions made; b) increase in operating expenses by $3.9 million mainly on general administrative expenses resulting from the expansion of operations and opening branches. 3) Net profit increased by $ 6.9 million to $ 8.6 million. 4) Earnings per share of $ 0.15, calculated on the basis of a weighted average number of shares of 58 million pieces increased by $ 0.12 compared to a profit per share in the amount of $ 0.03 for the second quarter ended on September 30, 2018. 5) Other comprehensive income of $ 6.6 million changed by $ 10.4 million compared with other comprehensive loss of $ 3.8 million for the second quarter ended on September 30, 2018. 6) The Holding’s assets and liabilities as at September 30, 2019 rose by $74.7 million and by $58.2 million, accordingly compared to March 31, 2019. quote Full version of the statement is available at (in Russian) – http://kase.kz/files/emitters/US_FRHC/us_frhc_reliz_131119_1.pdf [2019-11-13]