Company Data
| Last traded |
R79.00 |
| Change |
R1.30 |
| % Change |
1.67% |
| Cumulative volume |
213,212 |
| Market cap |
R6.86bn |
Related Articles
Top Stories
Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Johannesburg - The JSE [JSE:JSE] Ltd, operator of the South African stock exchange and other financial markets, has shrugged off the jittery investor sentiment that lingered after the global financial crisis.
On Monday the JSE reported operating revenue for the year to end-December up 8% at R1.16bn, with a solid performance from the core equities business offsetting a marked fall in the derivatives business.
The equities business - which did not enjoy the luxury of a host of new listings but did see the listing of Vodacom - increased its contribution to operating revenue by 12% to R647m. The division accounted for 56% of the JSE's total operating revenue.
JSE CEO Russell Loubser 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."
But the JSE's equity derivatives business - arguably the "sexiest" part of its business before the market crash in late 2008 - took a bit of a pasting in the year under review.
The results showed that equity derivatives, which generated R107m, accounted for only 9% of the JSE's operating revenue. Last year equity derivatives generated R132m, accounting for 12% of the JSE's operating revenue.
Loubser said trade in equity derivatives fell due to the global market crisis fallout.
But he noted the division showed signs of recovery from November 2009. "Innovative product diversification reduced the revenue impact of the lower derivative volumes."
Loubser disclosed that equity derivative contract volumes fell by 68% to 164 million (2008: 511 million).
He said the market was impacted by the collapse of Lehman Brothers (previously a large player in the JSE's equity derivatives market), a drop in retail investment confidence, and an increase in clearing margins on derivatives on many small cap stocks instituted by clearing members.
At bottom line the JSE posted profits of close to R400m, which equated to earnings of 430 cents per share. A dividend, covered 2.1 times by earnings, of 192c/share was declared - which puts the share on a yield of around 3% and suggests that directors are confident of sound trading in the year ahead.
At year-end the JSE had no long-term borrowings and a reassuring R921m in cash reserves. The JSE, of course, needs a sizeable cash coffer because the bourse needs to retain sufficient capital to fund four months of operations as well as guarantee all on-market equities trades.
- Fin24.com