HKEx posts record HK$7.4b nine-month profit

Business | 7 Nov 2018 1:32 pm

The bourse operator, Hong Kong Exchanges and Clearing reported a record profit of HK$7.48 billion for the first nine months, an increase of 35 percent from the year before period.

The basic earnings per share increased by 34 percent to HK$6.03, from HK$4.51 in the three quarters.

Chief Executive Charles Li Xiaojia described the performance as "another excellent quarter.''

"These results reflect the continued role that HKEx plays as the world’s center for IPOs and as Asia’s most vibrant and liquid capital market. Despite global macro economic and political headwinds, we look forward to the rest of the year with confidence,” he said.

Revenue and other income grew by 27 percent to HK$12.29 billion from HK$9.65 billion, the year before.

Revenue was driven by strong cash market headline average daily turnover and average daily volume in the derivatives market, and higher listing fees arising from record high number of newly listed derivative warrants and CBBCs and IPOs, the bourse said.-The Standard

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