Mr Dominic Stevens, ASX Managing Director and CEO, said: “The confidence I expressed in the quality of the ASX business when I became CEO is borne out in the company’s financial results for the first six months of the 2017 financial year and its progress on key strategic initiatives.
“Overall performance for the half was pleasing with solid growth in most of ASX’s businesses. Total Group revenue grew by 2.8% to $386.6 million, an increase of $10.4 million, and profit after tax rose 3.0% or $6.3 million to $219.4 million. The result was underpinned by healthy levels of cash market and derivatives trading activity, stimulated in part by market reaction to the US Presidential election. The dip in revenue from our Listings business reflects the comparison with last year’s strong level of secondary capital raisings. While the total amount of capital raised was down for the half-year, the number of new listings was up from 77 to 86.
“We have continued to invest in the infrastructure that positions Australia’s financial markets for the future, with capital expenditure of $20.3 million in the period and approximately $50 million expected for the fullyear. This includes a new futures trading platform, on track to go-live in March, and the development of distributed ledger technology as a potential equity post-trade solution to replace CHESS. Both initiatives aim to improve industry efficiency and have benefitted from collaboration with our customers and other stakeholders. I am very conscious of the important and impactful role ASX plays and the need for us to listen to the needs of the market.”
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