JAKARTA – PT Yulie Sekuritas Indonesia Tbk (YULE) still reported slowing down in its performance, both top line and bottom line, in 2023, due to meagre result from all revenue source.

According to Financial Report 2023, YULE reported revenue decline of up to 33.41% year-on-year (yoy) to IDR 49.92 billion. It then led to net profit that went downhill by up to 52% yoy to IDR 27.13 billion in 2023.

The revenue from brokerage service decreased the most amongst other income source, reaching minus 54.11% yoy to IDR 989 billion.

Thankfully, in Q1 2024, brokerage income seemingly improved, scoring 48.3% yoy increase to IDR 227.56 million.

For 2024, the company plans to continue developing and upgrading YouTrade, its online stock trading application for retail investors. “Through several additions of features,” said Agustinus Sumandar, Director of Brokerage and Underwriting of YULE.

Officially launched in July 2023, YouTrade has secured 125 users as of December 2023. these new users further drove online trading transaction value in 2023, up 82.51% yoy to IDR 5.56 billion.

“However, we were actually not satisfied with 2023 achievement,” said Sumandar.  For 2024, YULE aims to secure 75 new YouTrade users to total 200 users, eyeing total online trading transaction of IDR 10 billion.

Furthermore, Sumandar said that there have been many external factors that hindered the growth of its equity brokerage business line, including high interest rate set by The Feds and Bank Indonesia, which, in turn, lower the appeal of stock market trading in public investors.

“In Q3 and Q4, we wish stock market could regain its spirit, thus bringing people in to invest again,” concluded Sumandar. (ZH)