ASX Expects To Report Strong First-Half Result

ASX has assessed market expectation with respect to its upcoming half yearly result. In light of this assessment ASX announces that it expects to report an outstanding first-half net profit in the order of $42 million, ASX Managing Director and CEO Mr Richard Humphry said yesterday.

This excellent result would represent a record profit for any six-month period by ASX since listing in October 1998.

It reflects not only the buoyant trading volumes of recent months, but also high levels of initial public offerings and – in particular – secondary market capital raisings, Mr Humphry said. Secondary capital raisings – subsequent capital raisings by listed companies – have emerged over recent years as a significant contributor to Australia’s capital market growth.

This anticipated result is unaudited, and subject to consideration by the ASX Audit and Risk Committee and by the ASX Board. ASX’s audited results for the first half will be released to the market on 25 February.

Mr Humphry said the strong expected result complements the high levels of ownership and engagement revealed in the ASX Shareownership Survey, released earlier this week. It also reflects the strength of the capital markets in Australia. “Deep and liquid capital markets are important for the whole economy as they keep the cost of capital low and help boost economic activity and employment,” Mr Humphry said.

Mr Humphry noted that trading volumes had remained high into the New Year, but he emphasized that it was always difficult to predict future levels of activity.