Recent ACE Market-listed Mercury Securities Posts Net Profit of RM8.4 Million

Mercury Securities Group Berhad’s (Mercury Securities), which was recently listed on the ACE Market of Bursa Malaysia, posted a net profit of RM8.4 million, or earnings per share of 3.06 sen on revenue of RM27.4 million.

As the group was listed last September, there are no comparative year-on-year figures as Mercury Securities.

When it debuted, the group reportedly opened at RM0.27 per share, which represented a premium of 8% over the initial public offering (IPO) price of RM0.25 per share.

For the fourth quarter ended 31 October 2023 (Q4FY2023), Mercury Securities saw 19.93% increase in revenue to RM8.71 million from RM7.26 million in the preceding quarter.

“Our stockbroking segment contributed RM6.35 million, while the Corporate Finance segment added RM2.36 million, reflecting the group’s multi-channel revenue stream,” it said in Bursa filing today (Dec 26).

The group’s gross profit margin stood at 57.93% for Q4FY2023.

It said its profit before tax (PBT) stood at RM4.6 million for the quarter under review and RM16.39 million for the full financial year.

“For the cumulative quarters, PBT reached RM12.46 million, after fully charging the one-off non-recurring listing expenses of RM3.93 million,” it said.

Mercury Securities’ management said the group’s performance this quarter, evidenced by a meaningful increase in revenue and a healthy gross profit margin, demonstrates the effectiveness of its business strategies.

“These results underscore our resilience and our all-round proficiency in a mixed market environment. We are particularly proud of our team’s efforts in achieving these results and remain focused on sustaining this growth trajectory,” the management said.

Looking ahead, Mercury Securities said it remains steadfast to drive revenue growth and optimising operating costs.

The group said its key initiatives include expanding its share margin financing portfolio, enhancing its online trading platform with algorithmic capabilities to increase market share, enlarging its proprietary trading teams and adding corporate finance personnel to further expand the corporate finance division.

“We will also be introducing new products and services to further diversify its revenue channels and thereby expand its clients base.

“With these strategies in place, the group is poised to navigate future challenges and capitalise on opportunities for the group’s continued growth and performance,” it added.

Mercury Securities added: “The Board of Directors is pleased to declare a maiden interim dividend of 0.5 sen per share based on the entitlement date of 12 January 2024 whilst the payment date has been fixed on 2 February 2024.

“The group continues to be committed to creating value for its shareholders and other stakeholders.”

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