UOB-Kay Hian reports second quarter earnings of $26.65 million, up 114.5%
NET profit more than doubled in the second quarter at UOB-Kay Hian Holdings thanks to more commissions for executing trades and increased lending to share investors.
Earnings for the three months to June 30 came in at $26.65 million, up 114.5 per cent from $12.43 million in the same period last year.
Total revenue at the broking house rose 50.1 per cent to $112.08 million but the inclusion of a $2.165 million foreign exchange gain lifted the total income to $114.248 million, an increase of 50.8 per cent from last year.
"Regional markets remained buoyant in most of the second quarter of 2013," said UOB-Kay Hian in a statement on Tuesday.