PSE income increased by 28% in 9 mos

By , on November 16, 2014

Shutterstock Photo
Shutterstock Photo

MANILA – The Philippine Stock Exchange (PSE), the operator of the country’s only stock exchange, saw an increased in profit by over a fourth in nine months.

Its net income jumped 28.1 percent year-on-year to P718.96 million.

Meanwhile, PSE’s operating revenues for the period of January to September rose by 18.7 percent at P1.19 billion.

Accounting for 42.9 percent of operating revenues, PSE’s listing-related income increased by 79.1 percent.

The increase came following the improvement on listing fees from initial public offerings (IPO) and additional listings.

However, because of lower transaction fees, trading-related income, which made up 18.5 percent of the operating revenues decreased by 8.3 percent.

Compared to the same period last year, total value turnover also decreased from P1.99 trillion to P1.54 trillion as of September 2014.

“We are pleased with the company’s performance in the first nine months. We expect capital raising activity to remain brisk in the last few weeks of the year with the number of IPOs and follow on offerings lined up,” said PSE president and chief executive officer Hans B. Sicat.

“The year is drawing to a close but we remain focused on what needs to be accomplished based on our targets this year,” Sicat said.