By Madelaine B. Miraflor Reporter
The local bourse grew its profit by 28 percent as the stock market remained robust.
A regulatory filing filed by the Philippine Stock Exchange (PSE) in its website showed that its net income grew 28 percent to P184.81 million in the first quarter of this year, a significant growth from the P144.63-million profit it registered in the first three months of 2012.
PSE’s revenues also jumped 18.14 percent to P263.41 million from P222.96 million over the same period in 2012, driven by higher listing- and trading-related incomes as well as service fees.
The regulatory filing further showed that PSE’s trading-related income, inclusive of the amount ceded to independent watchdog Capital Markets Integrity Corp. as regulatory fees, rose 17 percent on higher trading volume. Average daily turnover also grew to P10.22 billion in the first quarter of the year from P7.84 billion a year ago.
Listing-related income, on the other hand, saw a 15-percent growth from listing fees from share sales and additional listings as well as from listing maintenance fees.
PSE’s 2012 full-year profit grew twofold to P624.17 million, a 53.7-percent increase from the P406.19 million the bourse earned in 2011, on the back of the growth in listing-related and trading-related income as well.
Its operating revenues likewise grew by 27 percent to P1.14 billion in 2012 from P900.76 million the previous year, while its total revenues, which include income from investments, rose to P1.31 billion, or a 30.8-percent leap from the previous year.
According to the local bourse, the increase was mainly attributed to the growth in listing-related and trading-related incomes, as well as service fees.
The bourse’ listing-related revenue reached P562.04 million, or a 30.9-percent increase from the P429.29million in 2011, from the rise in capital-raising activities of listed companies.