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Guotai Junan Securities FY'17 profit rises YOY

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Guotai Junan Securities FY'17 profit rises YOY

Guotai Junan Securities Co. Ltd.'s net profit for the year ended Dec. 31, 2017, rose year over year.

The China-based company said March 29 that profit attributable to its equity holders increased to 9.88 billion yuan from 9.84 billion yuan in the prior-year period. EPS for the year was 1.10 yuan, compared to 1.21 yuan.

The S&P Capital IQ consensus GAAP EPS estimate for the company's Shanghai-listed shares was 1.10 yuan.

Fee and commission income dropped to 12.58 billion yuan from 15.63 billion yuan, while net investment gains rose to 6.43 billion yuan from 4.80 billion yuan. Meanwhile, interest income increased to 12.41 billion yuan from 11.72 billion yuan.

The company's total expenses declined to 19.31 billion yuan from 21.29 billion yuan. As a result, operating profit rose to 13.65 billion yuan from 14.73 billion yuan in the year-ago period.

The company's board declared a cash dividend of 40 fen per share for 2017, up from the dividend of 39 fen per share for 2016.

As of March 29, US$1 was equivalent to 6.29 Chinese yuan.