UOB Kay Hian 2Q net profit jumped 39.2%

SINGAPORE - Trading volume in the Hong Kong market that surged to levels not seen in recent times has lifted brokerage UOB Kay Hian's second-quarter earnings.

Net profit for the three months ended June 30 jumped 39.2 per cent to S$23.7 million.

Commission income rose 17 per cent from S$66.3 million. Interest income grew 36.3 per cent to S$35.5 million with higher financing activities. Other operating revenue increased 18.9 per cent to S$6.5 million with higher corporate finance activities.

Earnings per share for the quarter was 3.12 cents, up from 2.31 cents previously. Net asset value per share was 163.86 cents as at June 30, down marginally from 163.96 cents as at Dec 31 last year.

kohping@sph.com.sg