NZX lifts 1Q revenue 3% on rising agri data sales
NZX lifted first-quarter revenue 3% on increased agri information sales, which made the biggest contribution in the period.
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BUSINESSDESK: NZX, the stock exchange operator, lifted first-quarter revenue 3% on increased agri information sales, which made the biggest contribution in the period.
Outgoing chief executive Mark Weldon, who was today to lead his last annual meeting, said the company’s information markets and infrastructure assets underpinned its quarterly sales of $13.9 million, up from $13.5m in the same period a year earlier.
In a separate statement, the company said it will pay a quarterly dividend of 3.25 cents per share.
“This result is a very strong start to 2012, with the organisation in good health and tracking to plan,” Mr Weldon said in a statement.
“The NZX platform is very strong, with events such as Fonterra’s TAF (Trading Among Farmers) and the partial floats of state-owned enterprises on the 2012 horizon, and with new business lines such as dairy futures and the Clear Grain Exchange tracking to their growth milestone.”
The NZX board will today ask shareholders to sign off on the first bump to their fee pool for seven years to $435,000 from the existing $375,000.
It will also ask investors to approve the company’s $35m capital return.
The stock exchange operator’s information service revenue rose 5% in the quarter to $5.3m, with agricultural data making up almost $2.7m of sales, the single biggest contributor to NZX’s quarterly revenue.
Infrastructure sales climbed 24% to $3.3m, with energy up 21% to $1.9m.
Markets revenue shrank 8% to $5.3m, though a 31% decline in listings sales to $2.3m was affected by a large capital raising in 2011.
The stock exchange’s shares rose 0.4% to $2.78 in trading today.
Paul McBeth
Mon, 30 Apr 2012
Mon, 30 Apr 2012
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NZX lifts 1Q revenue 3% on rising agri data sales
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