EL7.AI
StocksMedium•27 October 2026•
4 min read

iFAST lifts profit 24.5% to S$32.4 million as DFI raises outlook

Key Facts

1iFAST third-quarter net profit rose 24.5% to S$32.4 million, from S$26 million a year earlier.
2iFAST total revenue increased 23.0% to S$167.01 million in the third quarter.
3iFAST assets under management reached a record S$36.76 billion on September 30, up 20.0%.
4DFI raised the floor of its 2026 forecast for underlying profit attributable to shareholders to US$295 million, while keeping the upper end at US$305 million.
5DFI plans to raise its payout ratio from 70% in 2026 to 80% in 2027.

iFAST reported a 24.5% year-on-year rise in net profit to S$32.4 million in the third quarter of 2026, compared with S$26 million in the corresponding period, according to The Business Times. The results came as total revenue increased 23.0% to S$167.01 million, according to a company statement. Earnings per share were S$0.1056, compared with S$0.0856 a year earlier. The company attributed profit growth to continued expansion of its core wealth management platform and a larger contribution from iFAST Global Bank. The board also proposed a third interim dividend of 3.2 cents per share for the quarter, up 39.1% from 2.3 cents in the corresponding quarter.

The bank posted record pre-tax profit of S$3.29 million in the third quarter, up 964.7% year on year, according to an iFAST statement. For the first nine months of the year, group net profit rose 34.4% to S$90.27 million. Assets under management stood at S$36.76 billion on September 30, up 20.0% from a year earlier and a company record. Net inflows of S$1.24 billion during the quarter supported the total. The figures put growth in the wealth platform and the bank’s expanding contribution at the center of the performance reported by the company.

On dividends, iFAST had forecast total distributions of at least 12 cents per share for fiscal 2026, according to The Business Times; the latest quarterly announcement therefore concerns a 3.2-cent dividend, not a new increase to the annual forecast. The proposed dividend is 39.1% higher than the 2.3 cents per share paid for the corresponding period. Before the results were released, the stock closed down 0.6%, or S$0.05, at S$8.01 on Monday, October 26, the newspaper reported. The available data do not establish the stock’s movement after the results announcement. The pre-announcement comparison therefore remains the specified market signal in the available information.

At DFI Retail Group, sales from continuing businesses rose 4% year on year in the third quarter and 2% on a like-for-like basis, while underlying subsidiary profit increased 17% and margins improved 40 basis points, according to the group’s disclosure. The company attributed improved subsidiary performance to higher profitability in health and beauty and home furnishings, as well as lower selling and administrative expenses under ongoing cost-efficiency initiatives. It said a higher contribution from Maxim’s also supported overall underlying profit growth in continuing businesses. The 17% figure therefore applies to underlying subsidiary profit, while overall profit growth combines additional factors, including Maxim’s contribution. The disclosure points to a simultaneous improvement in like-for-like sales and margins during the quarter.

DFI raised the floor of its 2026 forecast for underlying profit attributable to shareholders to US$295 million, while keeping the upper end at US$305 million, compared with a previous range of US$285 million to US$305 million, according to its regulatory filing on October 23. The updated profit range is higher than the previous estimate at the lower end, following 44% growth in underlying profit from continuing businesses to US$117 million in the first half, according to half-year results published on July 28. Like-for-like sales had risen 3% in the first half, and the group then announced an interim dividend of US$6.20 cents per share, up 77%. On payout policy, DFI said the ratio would remain at 70% for fiscal 2026 before rising to 80% in 2027. The announced increase for the following year comes alongside the updated annual profit forecast.

On its financial position, DFI moved to net cash of US$128 million on September 30, 2026, after recording net debt of US$22 million on June 30, according to its disclosure. The group also tied part of its forward plan to its licensed Starbucks operations, assuming the transaction is completed by the end of March 2027. DFI expects the business to add between US$600 million and US$650 million in consolidated revenue in 2027, and about US$900 million in 2028. It said it still targets underlying profit of between US$310 million and US$350 million in 2028, based on sector momentum and expected synergies from the integration. In the market, DFI shares closed up 1.5% at US$3.38 on October 26, after its quarterly disclosure published on October 23.