Shares of investment platform operator iFast plunged 12% on Monday morning (April 28) after the company revised its Hong Kong profit target and reported first-quarter earnings.
By midday, IFAST had dropped 12.1%, or S0.87,toS6.32.
According to Friday's (April 25) earnings report, the Singapore-based firm lowered its 2025 pre-tax profit target for Hong Kong from HKD500 million to HKD380 million.
The company posted a 31.2% year-on-year increase in Q1 net profit to S19 million, driven by a 24.4106.9 million. The improvement was attributed to its UK banking unit returning to profitability and sustained expansion in its core wealth management platform business.
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