The Philippine Stock Exchange, Inc. (PSE) saw its profits surge by 45.9 percent to P707.35 million in the first nine months of the year, attributed primarily to a one-time gain from the sale of its Tektite office
Net income a year earlier was P484.71 million, the bourse said in a disclosure.
An 8.84 percent gain—equivalent to P77.47 million—in operating revenues helped boost the PSE’s bottomline but the bulk of the year-to-date net was traced to the asset sale, which boosted other income by 119 percent or P201.8 million.
Trading- and listing-related fees grew by 7.82 percent and 21.99 percent, respectively, accounting for nearly 70 percent of operating revenues. Securities Clearing Corp. of the Philippines fees—28.15 percent of operating revenues—fell by 0.32 perdcent.
“Trading activity is slightly higher this year and we hope to see some more follow-on offerings in the fourth quarter,” PSE President and CEO Ramon Monzon said.
Expenses for the period, meanwhile, were down 4.6 percent to P436.81 million.
“Year-to-date, net foreign buying is over P50 billion with our main index, the PSEi, up around 20 percent,” Monzon noted.
“We would like to keep this momentum going to the next year by launching more products and making our market more attractive to both foreign and local investors,” he added.