/KASE, February 10, 2021/ – 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 February 10, 2021:
quote
Freedom Holding Corp. (hereinafter – the Holding) reports on financial results
for the third quarter of the fiscal year 2021 ended December 31, 2020.
Main indicators for the said period:
1) For the three months ended December 31, 2020 and 2019, the Holding's
revenue was $100.2 million and $29.6 million, respectively. An increase of
$70.7 million, or 239 %, was mainly due to an increase in fee and commission
income for the third quarter by 261%, or $53.8 million, from $20.6 million to
$74.3 million, as well as due to growth of the profit on trading securities by
194%, or $12.5 million, from $6.4 million to $18.9 million.
2) The Holding's expenses increased by $24.6 million, or 96, for the following
reasons:
a) an increase in commission expenses by $14.8 million due to an increase in
the number of clients and the volume of transactions they make;
b) an increase in interest expenses by $3.9 million, mainly due to an increase
in interest expenses on client balances in bank and brokerage accounts, an
increase in expenses related to short-term financing raised through
repurchase agreements on securities and issued debt securities;
c) an increase in operating expenses by $4.9 million, mainly in general
administrative expenses as a result of the expansion of the Company's
activities.
3) For three months ended December 31, 2020 and 2019:
a) the net income of the Holding amounted to $42.3 million and $4.1 million,
respectively;
b) earnings per share of the Holding, calculated on the basis of a weighted
average number of shares of 58 million pieces, made up $0.72 and $0.07,
respectively;
c) other comprehensive income was $49.2 million and $7.9 million,
respectively.
4) During the three months ended December 31, 2020, the assets and liabilities
of the Holding increased by $397.1 million and $347.3 million, respectively.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/US_FRHC/us_frhc_reliz_100221_1.pdf
[2021-02-10]