Published:
UOB-Kay Hian profit down 31.1% to S$23.6m
Other operating income declined by 34.4% to S$4.2m.
Fewer IPOs and low corporate fund raising activities were cited as reasons.
A company announcement said, “Following the escalation of the EU debt crisis and a weak US economic recovery, many retail investors have stayed on the sidelines.”
Meanwhile commission income decreased from S$85.8 million to S$71.1m, reflecting a 17.1% drop. In line with the decline in commission income, commission and personnel expenses decreased 9.8% and 11.9% to S$19.6m and S$25.4m respectively.
After tax profit for the third quarter ended 30 September 2011 was S$23.6m.
Read Here
Advertise
Sign Up
