NZX earnings up 14% for three months to September 30
NZX operating revenues up almost to 14%. On track for full year forecast.
Sharemarket operator NZX says its earnings are up almost 14% for the last quarter.
Operating revenue for the three months to September rose $1.7 million or 13.9% to $13.9 million as its markets and infrastructure businesses continue to deliver strong topline growth.
Year-to-date earnings are up $4.4 million or 11.9% at $40.5 million.
NZX chief executive Mark Weldon, stepping down next year, said the operator was on track to meet full-year expectations.
“We indicated at our Investor Day in March this year that our markets, and our shareholders, would see the positive impact of NZX’s deliberate strategy of building non-correlated revenue streams off a common operating infrastructure," Mr Weldon said.
Recognition that New Zealand was a global centre for agricultural markets, and the information that feeds them, as proving to be a sound base to drive further growth, he said.
Traditionally, NZX earns most of its revenue in the second half of the year, with an average of 54% of annual revenues earned in the second half over the past five years.
NZX expects to pay a dividend for the third quarter in early December.
Shares in NZX remain unchanged at $2.35 this morning.
Mr Weldon announced earlier this month he will leave the NZX in the first half of next year.
An international search for a replacement is underway.
Georgina Bond
Mon, 31 Oct 2011
Mon, 31 Oct 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZX earnings up 14% for three months to September 30
17601