Market operator NZX says an improvement in its first half result demonstrates the strength of its earnings base, despite a 3.2 percent drop in the bottomline net profit.
NZX chief executive Mark Peterson. Photo: RNZ / Dom Thomas
Key numbers for the six months ended June compared to a year ago:
- Net profit $7.4m vs $7.6m
- Revenue $46.2m vs $42.5m
- Underlying profit $17.4m vs $16.9m
- Interim dividend 3.0 cents a share
NZX chief executive Mark Peterson said, "This is a positive result and reflects both the breadth of market offerings available to access capital in a changing economic environment, as well as the underlying strength of our business."
Group revenue was driven up nearly 9 percent by increased listing activity, dairy derivatives, data & insights, funds management and wealth technologies.
However, costs increased and there was a drop in securities trading and securities clearing revenues, energy consulting revenue, and audit and back-dated licensing revenue.
"NZX remains firmly committed to balancing costs with initiatives that will deliver long-term sustainable growth - including those that encourage capital flows and market liquidity," Peterson said.
The company expected underlying profit to be little changed from last year, in the range of $33.5 million to $38m.
