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JSE operating revenue grows 9%

Mar 15 2011 13:54 I-Net Bridge

Company Data

Jse Ltd [JSE : JSE]

Last traded R73.36
Change R-0.15
% Change -0.20%
Cumulative volume 411,779
Market cap R6.37bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - The JSE Ltd [JSE:JSE] has grown its operating revenue by 9% to R1.255bn (2009: R1.156bn), it said on Tuesday as it released its results for the 12 months ended December 31 2010.

The main growth had come from the equities market, but contributions were also made by information products sales and commodity derivatives.

The interest rate market contributed 12 months of revenue in 2010 against six months the previous year, when it was acquired from the Bond Exchange of South Africa (BESA).

Other income climbed 24% to R50m (2009: R41m), primarily a result of the profit on realising portfolio investments in the Investor Protection Funds, the bourse added.

JSE operating costs before net finance income rose by 8% to R879m (2009: R810m).

Group headline earnings per share fell from 456 cents to 436c.

Capital expenditure of R157m in 2010 related mainly to the last phase of the JSE's technology replacement project, including the back office system, surveillance and clearing, and settlement systems to be delivered this year and the bourse's new data centres.

The directors of the JSE proposed to declare an ordinary dividend of 210c/share to be approved at the annual general meeting of shareholders to be held on Thursday, April 28.

The bourse said it had had "a fair year in challenging conditions in 2010", as it focused on making progress on operational projects while responding to global changes in the exchange industry and the opportunities and challenges these could hold for issuers and investors.

After a period of uncertainty towards the start of the year, the JSE's main equity index, the FTSE/JSE all-Share index (ALSI), rose 16.1% year-on-year, reaching a high of 32 227 on December 30.

The South African Volatility Index (SAVI), a forecast of equity market risk in SA, rose in the last quarter of 2010, implying higher market volatility and thus risk.

However, SAVI levels were significantly lower than the highs reached during the global financial crisis in 2008-9.

Foreign investors continued to increase their holdings in JSE equities (2010 net inflow: R36.4bn; 2009: R75.3bn) and grew their net investment in the interest rate market to R58.6bn.

 
 
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