NZX third-quarter sales rise 14%, driven by agricultural data, listings, clearing

Monday 31st October 2011

NZX reported a 14 percent gain in third-quarter profit, driven by sales of agricultural data, listings and securities clearing services.

Quarterly sales rose to $13.9 million from $12.2 million a year earlier, the stock market operator said in a statement today.

Revenue from listings climbed 15 percent to $2.6 million and sales from securities trading rose 36 percent to $762,000.

Trading in commodities, still a fledgling business, rose 5.9 percent to $180,000. Its total markets segment had a 22 percent increase in sales to $5.4 million.

Sales of securities data fell 5 percent to $2.2 million while sales of agri information rose 15 percent to $3 million, lifting total third-quarter information sales by 5.4 percent to $5.3 million.

Infrastructure sales rose 16 percent to $3.2 million, led by an 80 percent jump in securities clearing to $912,000 and a 12 percent decline in energy to $1.7 million.

The total value of cash market trading rose 40 percent to $7.5 billion in the third quarter from a year earlier, or an average of $114 million a day. That was driven by a 43 percent increase in equity trading to $7.3 billion, while debt transactions fell 11 percent to $259 million

Total equity securities listed on the NZX fell 3.4 percent to 169 in the third quarter and debt securities declined 6.1 percent to 108.

A total of $1.85 billion in capital was raised in the quarter, with the bulk coming from dual and secondary listings, while capital raised by companies with the NZX as primary listing was a more modest $279 million and debt capital amounted to $306 million.

Shares in NZX fell 0.4 percent on Friday, and have gained almost 54 percent this year.

BusinessDesk.co.nz

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