Money Partners Group’s H1 FY 2016 net income falls 22% y/y, despite flattish revenue

Money Partners Group’s H1 FY 2016 net income falls 22% y/y, despite flattish revenue

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Japanese forex brokerage Money Partners Group (TYO:8732) reported on Friday an annual drop in consolidated net income of 21.7%  to JPY 460 million in the six months to 30 September, 2016. A year earlier, the broker’s mid-year consolidated new income amounted to JPY 588 million, which represented more than a threefold growth from the preceding year.

Money Partners Group’s consolidated net operating revenue, however stayed rather flattish (just 0.5% up) on the year to slightly more than JPY 3 billion.

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Monex Group and Rakuten Securities, two other Japanese forex brokerages, reported earlier their financial metrics for the past six months. In April-September, Monex Group saw its profit dropping 66.9% on the year to JPY 1.1 billion and its net revenue down by an annual 25.8%. Meanwhile, Rakuten Securities posted a net income of JPY 6.8 billion, or slightly down by an annual 2.8%.

GMO Click, also based in Japan, reported an operating revenue of JPY 13.9 billion in the six months under review, which is down by 10.5% year-on-year.

Tokyo-based Money Partners Group is a holding company which is comprised of forex and contracts for difference (CFDs) broker Money Partners and financial system development company Money Partners Solutions. It serves both retail and institutional clients.

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