Oslo Børs Holding ASA recorded post-tax profit of NOK 16.7 (16.3) million in the third quarter of the current year. The level of trading activity in the equity market in the third quarter was somewhat higher than in the second quarter, and was again at a high level in historical terms.
Third quarter revenues totalled NOK 62.5 (58.1) million. Most revenue types and areas showed an increase compared with the same period last year. Revenues from trading, listing and prospectus control and admission to listing fees showed the largest increases.
Shares and primary capital certificates worth NOK 223 (156) billion changed hands in the third quarter. Transactions in the equity market totalled 683,000 (660,000). Quoted bonds and short-term money market instruments numbered 843 (835) at the end of the third quarter. Trading in the derivatives market again showed a positive trend compared with last year. In the third quarter traded contracts numbered approx. 1,122,000 (1,062,000). The number of terminals with access to market data from Oslo Børs was on a par with the level seen in the first two quarters of the year. The number of listed companies increased in the third quarter from 184 to 185. Four companies were deleted from listing during the period.
Third quarter operating expenses amounted to NOK 39.3 (36.7) million. The increase is due to several factors, including pay rises as from 1 January 2004, changes in the financial premises underlying the calculation of pension commitments in the third quarter of 2003, as well as provisioning for the variable remuneration scheme introduced for all staff in 2003 and one-time items in second quarter 2003.
Operating expenses for 2004 will exceed operating expenses for 2003 due to a weaker Norwegian krone exchange rate, annual salary increases effective from 1 January 2004 and non-recurring items which reduced costs in 2003. Oslo Børs expects operating expenses for 2004 as a whole to run to around NOK 170 million.
Report 3rd quarter 2004 (pdf)
