• Local bourse profit soars by almost 32 percent on high listing income

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    The earnings of the local bourse during the first half of the year soared by almost 32 percent as it saw a high increase in its listing income, as well as trading related income.

    In its financial statement, the Philippine Stock Exchange (PSE) reported a 31.8-percent increase in its net profit for the first half of 2013 to P428.95 million from P325.53 million it earned in the same period a year ago.

    Also, its total revenues surged by 30.1 percent to P789.62 million.

    Listing-related income, which accounted for 34.9 percent of PSE’s revenue, expanded by 29.7 percent to P275.30 million on higher listing fees.

    Between January and June, listing activities included the initial public offering, or IPOs, of Philippine Business Bank and Asia United Bank, Del Monte Pacific Ltd.’s listing by way of introduction, and 25 additional or follow-on listings.

    Total value turnover also expanded by 48.2 percent to P1.40 trillion in June 2013 from P947.73 billion in June 2012.

    “The stock market’s remarkable feat in the first half of 2013 supported the good corporate performance of the PSE. We remain optimistic about the prospects of more listings in the second half of the year as we surpass the market volatilities we experienced a month ago,” said Hans Sicat, PSE president and chief executive officer.

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