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Volatility lifts market operator's profit

AAP  |  17 Aug 2017Text size  Decrease  Increase  |  
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SYDNEY - [AAP] Share market operator ASX Limited (ASX: ASX) has achieved a 2 per cent increase in annual profit to $434 million after global uncertainty helped drive cash and derivatives trading.

Revenue in the 12 months to June 30 rose 3 per cent to $932 million despite income from listings and related services remaining flat.

Cash market revenue soared 14 per cent to $46 million.

"The result was underpinned by growth in cash market and derivatives trading activity, due in part to ongoing global uncertainty and pockets of volatility," chief executive Dominic Stevens said in a statement.

The number of new listings rose to a six-year high of 152, but capital raised from IPOs fell 38 per cent to $14.7 billion.

Total capital raised from listings, scrip-for-scrip and secondary raisings fell 29 per cent to $56 billion.

The company declared a final dividend of 99.8 cents, fully franked, up from 99 cents a year earlier.

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Shares in ASX were up 64 cents, or 1.2 per cent, at $54.31 late in the trading session.


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