Freedom Holding Corp. announces financial results for 2020 fiscal year ended March 31, 2020

14.07.20 18:24
/KASE, July 14, 2020/ – Freedom Holding Corp. (Salt Lake City), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of July 14, 2020: quote Freedom Holding Corp. (hereinafter – the "Holding") announces financial results for the 2020 fiscal year ended March 31, 2020. Highlights of the mentioned period: 1) Revenue in the amount of $122 mln increased by 64%, or $47.6 mln, YoY, mainly due to an increase in commissions revenues for the year by 109%, or 48.4 mln, from $44.3 million to $92.7 mln. 2) Expenses increased by $28 mln, or 43%, due to: a) an increase in commission expenditures by $15.7 following rising client numbers and amounts of transactions; b) a $16.9 mln increase in operating expenses, mainly on general administrative expenses as a result of expansion of operations and opening of branches. 3) Net income grew by $15 mln, to $22 mln. 4) Earnings per share of $0.38, calculated based on the weighted average number of shares of 58 million shares, increased by $0.26 compared with earnings per share of $0.12 for the fiscal year 2019 ending March 31, 2019. 5) Other comprehensive income of $7.2 mln changed by $15.6 mln compared to other total expenses of $8.3 mln for the fiscal year 2019 ending March 31, 2019. 6) The assets and liabilities of the Holding as of March 31, 2020 increased by $102.6 mln and $91.2 mln, respectively, compared with March 31, 2019. unquote The full press release is available on KASE website at – [2020-07-14]