PSE profit surges 54 pct in 2012
MANILA, Philippines - The Philippine Stock Exchange (PSE) reported a net income of P624.17 million in 2012, a 54% growth from year-ago levels, as the stock market surged to new highs.
In a statement, the PSE said operating revenues jumped 27% to P1.14 billion in 2012 from P900.76 million the previous year. Total revenues, which include income from investments, rose 31% to P1.31 billion. This was attributed to growth in listing-related and trading-related incomes, as well as service fees.
"The favorable macro environment and several game-changing Exchange initiatives we've managed to implement combined to kick-start and sustain the market’s stirring run. We look forward to continue leveraging on these strengths as we push the market to even greater heights in 2013," PSE President and Chief Executive Officer Hans B. Sicat said in a statement.
This year, the benchmark PSE index has soared to 23 record highs so far. Year-to-date as of March 14, the PSEi has gained 15.2% or 881.98 points.
"The PSE’s exceptional corporate performance is another reflection of investors’ vote of confidence in our market. If the first few months of 2013 are any indication, we are optimistic that this growth momentum can be sustained going forward," Sicat said.