Freedom Holding Corp. reports its financial results for fiscal Q3 2020, which ended on December 31, 2019.
There is a number of figures that improved over the reporting period. The earnings rose by 12% compared to Q3 2018, which was largely because of the commission earnings going up by 68%, from $12.30M to $20.60M. The net profit on tradable equities, however, dropped by $5.20M, compared to the previous period.
Meanwhile, the total assets increased by $172M compared to March 31, 2019, to reach $523 by December 31. The amount of company's own funds also rose, from $118M by late March 2019 to $142M by late December, 2019.
The report also shows an increase in costs, which is due to new office openings in the countries of presence, and a rise in commission costs related to a larger number of clients and their trading volume.
The client base meanwhile rose to 133,000 people by December 31, 2019.
Timur Turlov, CEO at Freedom Holding Corp., commented on the report:
"The current report meets our expectations. We did a lot of work last year in terms of business structuring and continued expanding our business in all countries of presence. The increasing client base of Freedom Holding Corp. is worth mentioning separately; over 133,000 throughout the word trust us, and this means we are doing the things right."
For Freedom Holding Corp., the fiscal year 2019 ended on March 31, 2019, while the fiscal year 2020 will end on March 31, 2020.
Freedom Holding Corp. is an international public company focusing on financial services, retail broker services, investment advisory services, and stock trading. The holding also provides investment banking and underwriting services in Eastern Europe and Central Asia.
Freedom Holding Corp. shares are currently traded in the NASDAQ Capital Market, Saint Petersburg Stock Exchange, and Kazakhstan Stock Exchange.