- Net profit after tax (NPAT) of $33.5 million, up 21% from $27.6 million for the first half of 2004. The profit growth resulted from higher revenues, flat operating expenses and higher net interest. SFE’s results are reported under the new Australian equivalents to international financial reporting standards with the prior period comparisons restated on a comparable basis.
- Revenue from ordinary activities (excluding interest) of $65.8 million, an increase of 12% on the prior comparable period.
- Operating expenses (excluding interest paid on margins) of $27.1m compared to $27.2m in the first half of 2004.
- Volume growth in derivative traded contracts of 16% in the first half to 30.8 million contracts with the average fee per contract increasing slightly from $1.50 to $1.52.
- An interim, fully franked, dividend of 21.3 cents per share was declared, up 24% from 17.2 cents per share in 2004 and representing 85% of NPAT.
In releasing the results, SFE’s Managing Director and CEO, Robert Elstone said
“Continued strong exchange traded volumes in the first half of 2005 coupled with maintaining operating expenses at 2004 levels resulted in a very satisfactory first half operating performance.
The first half result demonstrates SFE’s consistency in financial and operational management over the past five years. With a strong start to exchange traded volumes in the second half of the year SFE expects to deliver another satisfactory result in 2005 while at the same time rewarding the larger users of the exchange by way of rebates on fees at similar levels to the record amounts paid in 2004.”
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