Ann: SelfWealth Business Update, page-46

There has been a half yearly since the screenshot you posted.

HY-Dec 19
Trading Revenue 1,239,024
Membership subscription revenue 46,574
Interest income 940,599

Then since the half yearly, there has been an update on client cash balances:

	End-Feb	End-Jan	Q220	Q120
1	217.22m	163m	136m	118m
2	33.3%	19.9%	15.3%	31.1%

(Q220, Q120 were in the half yearly mentioned above. Jan-Feb were after it.)

So client cash is up drastically.

I have their NIM (net interest margin) as ~1.57% in Q1-Q2, and ~1.45% in Jan-Feb (though ~1.2% in March). That is assuming RBA+0.75%, minus 0.05% for interest paid to clients (on average). So the HY was stronger than the screenshot you showed, and Jan-Feb would be stronger than the HY. I'm uncertain about March yet - March had an RBA cut, and client cash could pull back from the huge Feb spike.

If you take $118m client cash as the mid-point of the half year, and note that they earned $940k for the half year, then the inferred interest rate is 1.6%. My assumption above was 1.57%, so my numbers look quite right.

Then my assumption for Jan-Feb would be $400k+ for the 2 months alone. A monthly rate 28%+ higher than the half-yearly, thanks to the higher client cash balances.



Papito: Did they mention trading gross profit margin somewhere?