LISTED full-service online broker COL Financial Group Inc. reported a net profit of P250.24 million for the first six months of 2024, down 9.4 percent from P276.3 million last year, amid 'flattish' revenues coupled with higher operating expenses and provisions for income taxes.
LISTED full-service online broker COL Financial Group Inc. reported a net profit of P250.24 million for the first six months of 2024, down 9.4 percent from P276.3 million last year, amid 'flattish' revenues coupled with higher operating expenses and provisions for income taxes.First-half consolidated revenue was flat at P572.82 million as the drop in commission revenues, and the booking of trading losses was offset by increased interest income and trail fees.
For the first six months, COL's client base is said to have grown 3.2 percent year-on-year to 543,274.Net equity improved 2.7 percent to P111.64 billion as of end-June, as net new cash inflows of clients reached P1.57 billion during the past 12 months.COL said it has total trade receivables of P1.03 billion due to a significant increase from the Philippine clearing house, amounting to P145.34 million from P10.89 million as of end December 2023, while receivables from customers grew to P881.
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