Asia Plus enjoys year-on-year rise in net earning for third quarter

The company posted a net gain of Bt359.23 million in the quarter, a rise of 31 per cent from the same period last year, thanks to good market conditions. During the period, the market’s average daily trade volume rose by 37 per cent from Bt27.29 billion to Bt37.27 billion, thus boosting  ASP’s daily trade by 36 per cent from Bt2.25 billion to Bt3.06 billion. 

Fee and service income in the quarter increased by 248 per cent to Bt172.69 million, thanks to growth in underwriting fees and advisory business. However, profit from securities and derivatives trading in the third quarter dropped to Bt65.04 million, while interest on margin loans rose by 21 per cent thanks to an increase in these loans.

Expenses in the third quarter expanded by 23 per cent to Bt422.64 million as a result of higher fees and service expenses, in line with brokerage fee income. The rise in operating costs was mainly caused by higher personal expenses in relation with brokerage fees and fee income.

The consolidated financial statement of the first nine months of 2013 shows a net profit of Bt925.76 million, compared with Bt423.01 million for the same period last year. 

At the end of the quarter, the company posted total income of Bt2.55 billion, improving by 69 per cent year on year thanks mainly to an 83-per-cent rise in brokerage fees in line with the higher trade volume. Fees and services income improved by 142 per cent and interest on margin loans rose by 62 per cent.