Stronger market activity boosts ASX profit

Financial market operator ASX has lifted its half year profit by 11 per cent due to improved economic conditions and stronger market activity.

Improving global economic conditions and a rise in the number of companies listing on the local share market have contributed to an almost 11 per cent rise in market operator ASX's half year profit.

ASX said all lines of its business, which includes derivatives markets and information services, posted revenue growth in the period, the first time that has been achieved since the global financial crisis.

The company made a net profit of $189.6 million in the six months to December 31, up 10.8 per cent from $171.1 million in the same period a year earlier.

Market activity levels in January and early February were up slightly on the same period in 2013, ASX said.

Its shares were up 49 cents, or 1.4 per cent, at $36.18 at 1309 AEDT.


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Source: AAP


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