Freedom Holding Corp. reports Q2 FY 2025 results

11.11.24 17:43

/KASE, November 11, 2024/ - Freedom Holding Corp. (USA), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Freedom Holding Corp. (FRHC) reports results for the second quarter of fiscal year 2025, which ended on September 30, 2024. The holding company's revenue amounted to $580.9 million. Its growth of $145.3 million (+33%) was due to the following factors: - Insurance underwriting income increased from $58 million to $160.3 million (+177%) primarily due to an increase in the number of pension annuity and accident insurance contracts. - Net gain on trading securities increased from $50.8 million to $68.3 million (+35%) due to the sale of Kazakhstan's sovereign bonds. An unrealized net gain of $65.9 million was also recognized for the same period, related to the increase in the value of securities positions. - Net foreign exchange income increased from a net loss of $3.7 million to a net income of $6.5 million (+275%). This change was primarily driven by a $16.9 million foreign exchange gain, partially offset by a $10.4 million translation loss, and a 78% increase in Freedom Bank's total foreign exchange trading volume over the two quarters. - Commission income increased to $121.1 million (+8%) mainly due to brokerage services. unquote The complete press release is available at: - https://kase.kz/files/emitters/FRHC_KZ/frhc_kz_relizs_111124_kz.pdf - in Kazakh; - https://kase.kz/files/emitters/FRHC_KZ/frhc_kz_relizs_081124_2024.pdf - in Russian. [2024-11-11]