PSE profit hits P429-M in first half
MANILA, Philippines - The Philippine Stock Exchange (PSE) reported its profit surged nearly 32% to P428.95 million in the first half, on the back of strong growth in its listing and trading-related income.
The PSE's total revenues grew 30% to P789.62 million.
Listing-related income went up 29.7% to P275.30 million on higher listing fees. There were several listing activities in the first half, including IPOs of Philippine Business Bank and Asia United Bank, Del Monte Pacific Limited’s listing by way of introduction, and 25 additional or follow-on listings.
Trading-related income rose 49%, on the back of higher trading volume.
"The stock market’s remarkable feat in the first half of 2013 supported the good corporate performance of the PSE. Given the continued strong macroeconomic environment and the impact of the investment grade rating of the country on the real economy, we believe that we can continue to post good corporate numbers through the rest of the year. We remain optimistic about the prospects of more listings in the second half of the year as we surpass the market volatilities we experienced a month ago,” PSE President and CEO Hans B. Sicat said.
Total value turnover went up 48.2% to P1.40 trillion in June 2013 from P947.73 billion in June 2012, for an average daily value turnover of P11.51 billion.