/KASE, August 11, 2022/ – Freedom Holding Corp. (USA), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated August 11, 2022:
quote
Freedom Holding Corp. (hereinafter – the Holding) announces its financial
results for the first quarter of fiscal year 2023 ended June 30, 2022.
Main indicators for the specified period:
1. For the three months ended June 30, 2022 and 2021, the Holding's revenue
was $227 million and $146 million, respectively. The increase in revenue by
$81 million, or 56%, was mainly due to:
- a 36% increase in fee and commission income, or $35 million, from $97 million
to $132 million, due to an increase in the number of client accounts and
expansion of activities (growth in the number of active clients and
transactions);
- growth in interest income by 96%, or $24 million, from $25 million to $49
million, associated with an increase in the total size of the trading
portfolio and the number of bonds in it, as well as an increase in the
number of loans issued;
- revenues from insurance activities by 71%, or $10 million, from $14 million
to $24 million, due to an increase in insurance operations.
2. The Holding's expenses increased by $71 million, or 84%, due to the following
reasons:
- an increase in operating expenses of $32 million was attributable to payroll
costs as a result of the expansion of the Holding's operations, hiring of
employees, compensation expenses, issuance of limited share grants to key
employees, increased advertising, charitable and sponsorship expenses;
- The increase in interest expenses by $29 million was due to an increase in
short-term financing from securities repurchase agreements and interest
expense on deposits, which was the result of an increase in customer deposit
accounts.
3. For the three months ended June 30, 2022 and 2021:
- the Holding's net profit amounted to $59 million and $55 million,
respectively;
- the holding's earnings per share, based on a weighted average of 59.5 million
shares, were $0.99 and $0.93, respectively;
- other comprehensive income was $83 million and $59 million, respectively.
4. During the three months ended June 30, 2022, the assets and liabilities of
the Holding increased by $620 million and $559 million, respectively.
As of June 30, 2022, the number of brokerage client accounts of the Holding
amounted to 479 thousand, which is 69 thousand or 17% more than the level of
March 31, 2022.
unquote
The full version of the press release is available on KASE website –
https://kase.kz/files/emitters/US_FRHC/us_frhc_relizs_110822.pdf
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