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June 26, 2017

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Securities companies see their net profit soar last month

TAIPEI--Securities companies saw their net profit soar in May because of the stock market's strong gains, which boosted the profitability of their proprietary operations, the Taiwan Stock Exchange (TWSE) said Saturday.

The exchange said the 80 securities companies in Taiwan posted a combined net profit of NT$4.57 billion (US$152 million) in May, sharply up from NT$391.31 million a year earlier.

During the month, the benchmark index on the stock exchange rose 284.47 points, or 3.24 percent, to close at 9,075.91.

The exchange said 66 of the 80 companies reported a net profit in May, while the other 14 ran losses.

The 80 securities companies had earnings per share (EPS) in May of NT$0.139, compared with NT$0.08 a year earlier, and their return on equity (ROE) hit 0.95 percent, compared with 0.55 percent in May 2013.

The TSWE said the 46 integrated securities firms posted NT$4.48 billion in net profit in May, up from NT$321.63 million recorded a year earlier, with 39 companies making money and seven posting losses.

During the same period, the 33 dedicated brokerages in Taiwan reported a combined net profit of NT$93.67 million, up 34.65 percent from a year earlier. TSWE statistics showed 26 of them reporting a net profit and the seven others incurring net losses.

In Taiwan, integrated securities firms are allowed to engage in a wide range of activities that include brokering trades, proprietary trading and underwriting, while dedicated securities brokers can only broker and trade equities.

The only futures commission merchant in Taiwan — Yuanta Futures — reported a net profit of NT$64,000, down from NT$124,000 recorded the same period of last year, the TWSE said.

In the first five months of the year, the 80 securities companies posted a combined NT$13.12 billion in net profit, up 52 percent from a year earlier, while EPS stood at NT$0.4, up from NT$0.266 a year earlier.

ROE rose to 2.73 percent from January-May, from 1.81 percent recorded during the same period in 2013, the TWSE said.

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