"Quarterly reporting allows us to keep shareholders optimally informed, minimises the risk of surprises and enables us to better manage the expectations of the market," said Mark Weldon, NZX CEO.
Weldon added that "increasing the levels of transparency both inside and outside the company is the mainstay of good corporate governance and we firmly believe that the discipline imposed by quarterly reporting will encourage the highest standards of investor disclosure."
"NZX's quarterly results will be unaudited, inexpensive to generate and won't place undue compliance costs on the company since the information is already generated for internal purposes on a regular basis," said NZX CFO, Rob Russell.
NZX expects to release the third quarter results on Wednesday 15 October and will endeavour to release first quarter results on or about April 15 2004. First and third quarter results will be posted on the NZX website. Half year (second quarter) and end of year (fourth quarter) results will be released within two months of the period ending in accordance with NZX Listing Rules. Printed copies of half year and full year results will be sent to shareholders as usual. A full schedule will be provided once finalised.