Freedom Holding Corp. announces financial results for fiscal year 2021 ended March 31, 2021

16.06.21 18:36
/KASE, June 16, 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 June 15, 2021: quote Freedom Holding Corp. (hereinafter – the "Holding") reports financial results for the 2021 fiscal year ended March 31, 2021. Key indicators for the specified period: 1. For the years ended March 31, 2021 and 2020, the Holding's revenues were $353 million and $122 million, respectively. The increase by $231 million, or 189%, was mainly due to an increase in fee and commission income for the year by 193%, or by $179 million, from $93 million to $272 million, as well as due to an increase in profit on trading securities by 209%. or by $31 million, from $15 million to $46 million. 2. Expenses of the Holding increased by $86 million, or 91%, for the following reasons: a) an increase in commission expenses by $51 million due to an increase in the number of clients and the volume of transactions they make; b) an increase in operating expenses by $17 million mainly due to an increase in salary costs as a result of the expansion of the Holding's activities through acquisitions and hiring employees; c) the increase in interest expenses by $15 million was mainly due to an increase in interest expenses on balances in customer accounts, an increase in expenses related to short-term funding raised through repurchase agreements on securities and issued debt securities. 3. For the years ended 31 March 2021 and 2020: a) the net income of the Holding amounted to $143 million and $22 million, respectively; b) earnings per share of the Holding, calculated on the basis of a weighted average number of shares of 58 million pieces, amounted to $2.45 and $0.38, respectively; c) other comprehensive income was $145 million and $7 million, respectively. 4. During the year ended March 31, 2021, the assets and liabilities of the Holding increased by $1,565 million and $1,419 million, respectively. unquote The full version of the press release is available on KASE website at – [2021-06-16]