Return on equity including undistributable reserves was 19 per cent p.a., down from 25 per cent p.a. during the same period in 2002. Operating margin before depreciation/amortisation is generally on level with the same period of the year before. The Exchange maintains its expectations to the profit for the year of DKK 50-60 million, which was forecast in the interim report for the first half of 2003.
In the period from January – September 2003, the equity market developed positively, and in the 3 rd quarter the number of transactions in shares and listed investment certificates peaked with more than 663,000 transactions.
In the first nine months of 2003, bond trading increased by 26 per cent compared with the first nine months of 2002.
Considering the given market conditions, the Supervisory Board expresses satisfaction with the results.
”After a rather poor beginning in the 1 st quarter, we are delighted to see that since October the equity market has reached the turnover in 2002, which was the third-highest level in the history of the Exchange. Especially the shares in our MidCap+ and SmallCap+ indices have performed well. Since the 1 st quarter of this year, the daily turnover in these segments has increased by 87 per cent. There is good reason to believe that the positive development will continue” said president and CEO Hans-Ole Jochumsen.
Read the Copenhagen Stock Exchange’s interim report for the first nine months of 2003 in its full length on the website of the Exchange, www.cse.dk.
Interim report for the first nine months of 2003 for the Copenhagen Stock Exchange A/S
Interim report for the first nine months of 2003 for the Futop Clearing Centre A/S
