ASX lifts FY profit on higher trading

ASX Limited has had a solid lift in activity, particularly in its listings service, that has driven a near-nine per cent jump in full-year revenue.

Markets operator ASX Limited has posted a 2.5 per cent lift in full-year net profit to $445.1 million with a strong contribution from its listings service, capital raisings and futures trading.

The statutory profit result was weighed down by a $20.2 million impairment charge on ASX's investment in electronic interest rate market operator business Yieldbroker.

Underlying profit for the year was up 7.2 per cent to $465.3 million.

ASX CEO Dominic Stevens said the diversified model for ASX had maintained earnings across cycles in each sector.

"Each of ASX's four main businesses grew, with the overall performance driven by higher capital raisings and increased futures trading, particularly from offshore customers," he said in a statement.

ASX's revenue for the year to June 30 was up 8.7 per cent to $1.01 billion and the company declared a final dividend of $1.091 per share, fully franked.

Looking ahead the company sand it expects US rates changes and global political uncertainty to keep markets volatile and the listings pipeline was "encouraging" thanks to recently announced demergers.

ASX shares were up 21 cents, or 0.3 per cent, to $68.04 at 1157 AEST.


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Source: AAP


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