Stock Market Investing Related News: "COL Financial Says First Half Net Income Up 29% to P273.7M"

Let's take some few minutes to read and review this latest news about COL Financial, one of the leading online brokerage in the Philippines founded by Sir Edward Lee. 

In a news column from gmanetwork.com, the headline says "COL Financial says first half net income up 29% to  P273.7M y-o-y". COL president, Sir Dino Bate also said that COL Financial got another record earning for the first half of the year (2013). 

Revenues were up 24.6 percent to P443.3 million on commissions that increased by 29.5 percent to P338.6 million. Interest income rose by 11.2 percent to P102.9 million, the company said in a disclosure to the Philippine Stock Exchange

Congratulations to COL financial.  That's 21,775 in six months. The company turned really viral. You know why? Please leave a comment below. Mind you... 21,775 in six months. That's an average estimate of 3,629 per month new investors. I wish all of those are Filipinos investors. I wish. If that is the case, now...we're heading there. We are now heading from spending habit to saving habit, to investing habit. Wow. Sustainability is the question now, but let's do it in regular basis anyway. 

You can read the entire news below.. please read now. 

COL Financial says first half net income up 29% to  P273.7M y-o-y

Online brokerage COL Financial on Tuesday said net income rose by 29.2 percent to P273.7 million in the first six months from a year earlier, helped by a wider client base and strong performance of the stock market. 

 

“We are pleased to announce another record earnings results for the first half of the year. More importantly, we are glad to see the continuous expansion of our client base and their investment on the

PSE,” said president and chief executive officer Dino Bate.

 

“Going forward, we plan to expand our product and services to better address the needs of our existing clients and other Filipino investors,” he added.

 

Revenues were up 24.6 percent to P443.3 million on commissions that increased by 29.5 percent to P338.6 million. Interest income rose by 11.2 percent to P102.9 million, the company said in a disclosure to the Philippine Stock Exchange.

 

In the six months to June, the firm took on 21,775 new clients which helped expand its client base to 68,481. Processed client equity reached the $1 billion mark to P46.4 billion as of end June from P34.4

billion year-on-year.

 

“The strong performance of the Philippine market and the accelerating growth of COL Financial’s client base were largely responsible for its record performance,” it said.

 

In the first half of the year, the brokerage accounted for 8.5 percent of the value turnover of local investors on the PSE from 7.8 percent in 2012.

 

In terms of volume transaction, the company handled roughly 1.9 million trades in the first six month of the year. — VS, GMA News

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