UOB Kay Hian's profit slid 7.5% to $69.19m in 2019

Lower trading volumes weighed on growth.

UOB KayHian’s profit fell 7.5% to $69.19m in 2019, from $74.83m in 2018. Revenues, likewise, decreased 10.6% to $212.89m, from $238.1m in 2018.

The company’s profit grew 77.6% in Q4 YoY to $20.04m, from $11.28m. Revenue also posted an increase for the quarter at 34.3% YoY to $61.05m, from $45.46m.

The higher profit for the quarter was attributed to positive market sentiment and trading volumes across major markets.

The contraction in full-year profits, on the other hand, was due to lower trading volumes on regional markets compared to the previous year, overshadowed by trade tensions for a good part of the year.

The board declared a dividend of 4.2 cents per share.