CLSA Premium Sees 42% Decline in Total Income During H1 2021

CLSA Premium, a Hong Kong-focused Forex broker, has published the trading update for the first half of 2021, reporting a slide in its total income.

The company's total income reached HK$3.80 million in the six month period, decreasing approximately 42% from HK$6.55 million for the 2020 Interim Period.

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Specifically, the leveraged foreign exchange and other trading income, the fee and commission income and the other income of the company decreased by approximately 42%, 36% and 30% respectively.

The total expenses came in HK$35.0 million in the six month period, up 3% from the previous year's HK$$34.0 million. After considering all expenses, the broker ended the period with a net loss of HK$29.98 million. In the equivalent period of the previous year, the broker reported a net loss of HK$21.2 million.

“In the 2021 Interim Period, the COVID-19 variants continue to be challenging to our major markets - Australia and New Zealand. However, due to our efforts to improve customer experience and satisfaction, the group has successfully maintained the growth of the customer trading volume,”the company concluded.

Last month, CLSA Premium has posted a profit warning for H1 of 2021​, expecting the company to record a net loss of approximately HK$30 million.