ASX merger still paying off
The Australian Securities Exchange (ASX) has posted a 16.9 per cent increase in net profit after tax to $365.9 million on the back of an 11.2 per cent increase in operating revenues to $614.9 million.
And according to the ASX chief executive, Robert Elstone, the result was achieved despite a slowing in the second half and a sharp decrease in initial listing activity.
He said that trade execution volumes in the cash equities market had continued to grow at a staggering pace and that the post-merger cost savings in equipment, occupancy and administration expenses had also contributed to the strong financial result.
Elstone said that while global equity and credit markets continued to be more fragile and volatile than in recent years, he remained cautiously optimistic about the prospects for ASX over the medium term.
AUTHOR
Mike Taylor
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