JSE revenue rises

Johannesburg - The JSE [JSE:JSE] Limited reported a rise in revenue on Monday as it released its full year results for 2009.

Operating revenue climbed eight percent to R1.156m for the year with the equities business contributing the bulk of this revenue, the bourse said in a statement.

However, group headline earnings per share dropped slightly from 456.9 cents to 456.1 cents.

"The exchange has weathered a year of tough global market conditions well.

"This resilient performance was a result of rising trade volumes in its cash equity markets and strong performances from several other divisions in the group," the bourse said.

"The challenges of 2009 were significant... in addition to adapting to the aftermath of the economic crisis, management focused on positioning the exchange for continued growth," Russell Loubser, the JSE's CEO, said.

This included strategic initiatives such as the launch of the Africa Board and the acquisition of the Bond Exchange South Africa.

Loubser said that the economic conditions of 2009 resulted in fewer listings and more delistings across most exchanges and the JSE was no exception.

"In 2009, 10 new companies listed on the JSE compared to 23 in 2008.

"This included the substantial listing of Vodacom."

He said high levels of corporate activity among JSE-listed groups boosted the revenue of the listings division.

Loubser said AltX, the board for young, fast-growing companies, had experienced a turbulent year in the aftermath of the global financial crisis.

"Nevertheless, the market remains an ongoing focus for the JSE and plays an important role in raising funds for small-cap South African companies." He said foreign investors were net buyers of R75bn of equities during 2009, a swing of R130bn on the previous year.

"Increased foreign inflows for 2009 indicate a confidence in South Africa's economic prospects and well as trust in the JSE's world-class systems and regulation capabilities," Loubser said.

- Sapa