Friday 24th October 2008
|Text too small?|
Net income in the three months ended September 30 rose to NZ$2.8 million from NZ$2.3 million a year earlier, the Wellington-based company said in a statement. Per-share earnings gained 17% to 31.69 cents. Sales gained 0.9% to NZ$8.1 million.
The exchange's own shares have climbed 68% from their June 2003 listing, helped by a strategy of diversifying revenue streams as income from IPOs and new listings slowed. The daily average value of trades across its stocks and debt markets fell 15% to NZ$120 million in the third quarter.
"NZX continues to focus intensely on cost management," chief executive Mark Weldon said in a statement.
Operating expenses fell 10% to NZ$3.7 million in the latest three months. The shares rose 1.9% to NZ$6.04 today, outpacing the NZX 50 Index's 0.8% gain. Of three analysts following the stock, two rate it "outperform" and one rates it a "hold."
The company didn't provide a profit forecast.
No comments yet
NZ dollar falls, NZX suspends trading after 6.2 magnitude Wellington earthquake
Cash trading on New Zealand stock exchange surges in first half, driven by equities
NZX cash trading tops $5 bln as MightyRiverPower listing beefs up market
NZX cash trading value jumps by 58 percent in February from a year earlier
NZX looks to launch spot gas market in June
NZX full-year profit falls 32 percent
NZX boss Bennett rounds out 2012 filings with $1.87M share acquisition
Equity trading jumps in NZX cash market as NZX 50 nears 5-year high
NZX names Amelia Wong as head of cash markets
NZX rings more changes as PR chief Macrae exits