PSE earns 719M in 9 months

The Philippine Stock Exchange (PSE) posted a 28.1 percent increase in its net income for the first nine months of 2014 to 718.96 million compared to the same period last year due to robust gains in its listing-related income.

In a disclosure to the Philippine Stock Exchange, the bourse said operating revenues from the January to September period came in at 1.19 billion, higher by 18.7 percent from the same period a year ago.

Listing-related income, which accounted for 42.9 percent of operating revenues, soared 79.1 percent as listing fees from IPOs and additional listings grew.

Trading- related income, which made up 18.5 percent of operating revenues, dipped by 8.3 percent due to lower transaction fees. Total value turnover slipped to Php1.54 trillion as of September 2014 from Php1.99 trillion in September 2013.

Data feed income and subscriptions fees rose by 13.4 percent and 42.4 percent respectively to reduce losses in trading-related income.

“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 Hans B. Sicat.

Total expenses was up by 14.9 percent to 413.19 million on higher operational expenses.

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

The groundwork for the new trading system powered by NASDAQ OMX’s X- stream Trading Technology is on schedule to meet the May 2015 schedule to go live.

The PSE remains to be among the top performing markets in the region. On September 25, the index climbed to an all-time intraday high of 7,413.62. Year to date, the PSEi is up 22.5 percent.