.jpg)
The consolidated profit after tax for the 1st quarter amounted to DKK 18.6 million as against DKK 14.1 million for the 1st quarter of 2003, a 32 per cent rise.
Return on equity was 22 per cent p.a., up from 19 per cent p.a. during the corresponding period in 2003. Operating margin before depreciation/ amortisation amounted to 51 per cent, compared with 45 per cent in the 1st quarter of 2003.
“The Copenhagen Stock Exchange’s profit for the 1st quarter has improved significantly due to the bustling trading activity on the equity market. We therefore make an upward adjustment of DKK 5 million of our expectations for the full year profit after tax so that it is now expected to be in the region of DKK 55-65 million”, says President and CEO Hans-Ole Jochumsen.
HEX Integrated Markets, the Copenhagen Stock Exchange, Oslo Børs, and the Iceland Stock Exchange have agreed on a new NOREX cooperation agreement. According to the agreement, HEX Integrated Markets Ltd. - which represents the NOREX partner Stockholmsbörsen - and the exchanges in Helsinki, Tallinn and Riga are now part of NOREX. Including HEX Integrated Markets, the NOREX Alliance now covers the whole Nordic region and two thirds of the Baltic area, comprising seven exchanges that share the same trading system and three clearing houses.
“As from September, the new partners in the NOREX Alliance will start using the joint SAXESS trading system, thus share trading in the entire Nordic region plus two of the Baltic states will take place in one and the same trading system.
The next challenge will be to create a common platform for the settlement of share transactions. The sooner we get a joint settlement system in the Nordic region, the better for the Danish equity market.
Once settlement takes place in the same way in all NOREX countries, more foreigners will come to the Danish market, and this will improve liquidity further”, says Hans-Ole Jochumsen.
Click here to read the Copenhagen Stock Exchange’s interim report for the 1st quarter of 2004.
