Freedom Holding Corp. reports its financial results for Q2 of FY 2021 ended on September 30, 2020

11.11.20 12:01
/KASE, November 11, 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 dated November 10, 2020: quote Freedom Holding Corp. (hereinafter - the "Holding") reports its financial results for the second quarter of fiscal year 2021, which ended September 30, 2020. The main figures for this period: 1) For the three months ended 30 September 2020 and 2019, the Holding's revenue was $69.7 million and $33.0 million, respectively. The increase of $36.7 million, or 111%, was mainly due to a 106% increase in fee and commission income for the second quarter, or $27.9 million, from $26.4 million to $54.3 million. 2) The Holding's expenses increased by $20.1 million, or 93%, for the following reasons: a) Commission expenses increased by $15.5 million due to an increase in the number of clients and the volume of their transactions; b) Interest expenses increased by $2.0 million, mainly due to the growth of interest expenses on client balances on bank and broker accounts and interest expenses on debt securities issued; c) An increase in operating expenses of $1.5 million mainly due to general administrative expenses resulting from expansion of operations and opening of branches. 3) For the three months ended 30 September 2020 and 2019: - net profit of the Holding was $23.6 million and $8.6 million, respectively; - earnings per share of the Holding calculated on the basis of the weighted average number of 58 million shares, were $0.40 and $0.15, respectively; - other comprehensive income was $12.8 million and $6.7 million, respectively. 4) Assets and liabilities of the Holding decreased by $93.0 million and $106.2 million, respectively. unquote Full version of the press release is available at [2020-11-11]