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Guotai Junan Securities FY'18 net profit falls 32.11% YOY

Guotai Junan Securities Co. Ltd. posted a 32.11% year-over-year decline in net profit for the 2018 full year.

The company on March 20 reported consolidated full-year net profit attributable to shareholders of 6.71 billion yuan, down from 9.88 billion yuan in the prior-year period. EPS declined to 70 fen from 1.10 yuan.

The S&P Global Market Intelligence consensus normalized EPS estimate for the 2018 full year was 86 fen, with four analysts reporting. The GAAP EPS estimate was 83 fen, with four analysts reporting.

Fee and commission income fell to 9.79 billion yuan from 12.58 billion yuan, while interest income rose to 12.84 billion yuan from 12.41 billion yuan. Net investment gains declined to 5.07 billion yuan from 6.43 billion yuan.

Total revenue dropped to 27.71 billion yuan from 31.43 billion yuan, while total expenses increased to 22.09 billion yuan from 19.31 billion yuan. Operating profit fell to 9.14 billion yuan from 13.65 billion yuan.

The company declared a dividend of 27.5 fen per share for 2018, down from 40 fen per share in 2017.

As of March 20, US$1 was equivalent to 6.69 Chinese yuan.