SUMMARY
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MANILA, Philippines – The strong performance of the stock market lifted the Philippine Stock Exchange’s (PSE) earnings by 53.7% in 2012.
PSE’s net income rose to P624.31 million from P406.19 million in 2012, as operating revenues went up to P1.14 billion from P900.76 million.
In a financial filing on Monday, March 18, the bourse attributed its growth to record levels of capital raising and trading. The benchmark PSE index hit several record highs during the year.
“The favorable macro environment and several game-changing exchange initiatives we’ve managed to implement combined to kick-start and sustain the market’s stunning run. We look forward to continue leveraging on these strengths as we push the market to even greater heights in 2013,” said Hans Sicat, PSE President and CEO.
The bourse’s growth was driven by listing and trading-related income.
Listing-related income jumped 30.9% to P562.04 million in 2012 from P429.29 million in 2011. Capital raised from the listings hit a record P219.07 billion, more than double the P107.5 billion raised in 2011.
The exchange’s trading-related revenues and fees went up 20.3% to P243.96 million in 2012 from P202.86 million the year before. The growth was due to an increase in trading activities. The PSE’s average daily turnover climbed 27.1% to P7.26 billion in 2012.
“The PSE’s exceptional growth corporate performance is another reflection of investor’s 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. – with a report from Christian Bautista/Rappler.com
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