PSE netted P867M in ’14

The Philippine Stock Exchange posted a 2.7-percent growth in its 2014 net income to P867.55 million from P844.77 million in the same period last year.

Total revenue, including operating and other incomes, went up by 4.1 percent to P1.71 billion.

Listing-related income, which made up 53.7 percent of operating revenue, rose by 13.1 percent year-on-year to P816.36 million.

Listing fees from IPOs, listings by way of introduction, share swaps and additional listings grew by 19.2 percent to P590.27 million. The gains in listing-related income were, however, tempered by lower trading-related fees, which registered a 5.5-percent decline to P299.26 million.

Transaction fees decreased as average daily turnover in 2014 slowed by 16.3 percent to P8.8 billion from P10.52 billion in 2013.

Muted trading activity also affected the service fees from the Securities Clearing Corporation of the Philippines (SCCP). SCCP service fees, which accounted for 25.0 percent of PSE’s total revenues, were down by 16.3 percent to P380.38 million. Income from subscription fee rose by 28.8 percent to P25.04 million while data feed income increased by 8.3 percent to P61.21 million from the previous year.

“We saw trading activity taper off last year from 2013 which neutralized gains from listings. Moving forward, however, we are hopeful that the brisk trading activity we have seen since the start of the year together with the projects that will be undertaken by the PSE in 2015, will help push the financial growth of the company,” PSE President and CEO Hans B. Sicat said.