NZX profits up 56%
Stock market operator posts full-year results to December showing net profits after tax of $14.5 million, up 56% on the year prior.
Stock market operator NZX have posted a 56% rise in net profit after tax in their full year results to December.
The group's net profit after tax of $14.5 million compares to $9.3 million achieved the previous year.
In a statement to the NZX, departing chief executive Mark Weldon said: “They key to the 2011 result was broad based revenue growth, expanding operating margins achieved by adding new product to scalable infrastructure, and the integrated nature of NZX’s business model.
Operating revenue increased 11% to $55.6 million, outstripping a 4% rise in operating expenditure.
Mr Weldon also flagged a plan to cancel one in ten shares and return up to $35 million to shareholders. The move, requiring High Court approval and shareholder confirmation, will also see a subsequent 7:3 share split and is expected to be concluded by late May 2012.
Mr Weldon is holding a press conference to discuss the results at 11:30am and the National Business Review will be in attendance. [UPDATE: Read Dispute with Clear requires 'industrial strength' lawyering - Weldon.]
Matt Nippert
Mon, 20 Feb 2012
Mon, 20 Feb 2012
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NZX profits up 56%
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