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Johannesburg -The JSE, which operates the Johannesburg Stock Exchange, posted a 36% jump in full-year earnings on Tuesday, helped by demand for equities that sent stock prices to record highs.
Africa's biggest bourse also flagged it could eventually require a capital injection to meet regulatory requirements, although it said it is adequately capitalised for now and opted to pay out higher dividends.
“I’m particularly pleased with the progress we made towards achieving our five year plan of providing integrated trading and clearing across all of our five markets by 2017,” said JSE CEO Nicky Newton-King in a statement.
Net profit after tax increased by 68% to a record high of R507m.
This follows strong operating revenue growth, which was up 14% to R1.58bn; and a moderate increase in operating costs, which was up 5% to R1.08bn.
The JSE said diluted headline earnings, the main measure of profitability in South Africa, rose to 640.8 cents per share in the year ended in December, from 470.2 a year ago.
"This performance resulted from an improvement in financial market sentiment," the JSE said.
"Most divisions performed well, with standout revenue performance from the equity market, post-trade services and market data divisions."
The JSE declared a special dividend of 50 cents, in addition to a 40% higher ordinary dividend of 350 cents, saying it was appropriately capitalised although it may require more capital injection in future to meet regulatory levels.
Africa's biggest bourse also flagged it could eventually require a capital injection to meet regulatory requirements, although it said it is adequately capitalised for now and opted to pay out higher dividends.
“I’m particularly pleased with the progress we made towards achieving our five year plan of providing integrated trading and clearing across all of our five markets by 2017,” said JSE CEO Nicky Newton-King in a statement.
Net profit after tax increased by 68% to a record high of R507m.
This follows strong operating revenue growth, which was up 14% to R1.58bn; and a moderate increase in operating costs, which was up 5% to R1.08bn.
The JSE said diluted headline earnings, the main measure of profitability in South Africa, rose to 640.8 cents per share in the year ended in December, from 470.2 a year ago.
"This performance resulted from an improvement in financial market sentiment," the JSE said.
"Most divisions performed well, with standout revenue performance from the equity market, post-trade services and market data divisions."
The JSE declared a special dividend of 50 cents, in addition to a 40% higher ordinary dividend of 350 cents, saying it was appropriately capitalised although it may require more capital injection in future to meet regulatory levels.
