Bourse net profit jumped 18% to P825M in 2017
The Philippine Stock Exchange (PSE) grew its net profit last year by 18 percent to P825 million on higher revenues from trading activity, subscription fees and market data and one-time gain from the sale of its office space in Tektite Building in Ortigas.
Operating revenues and other income in 2017 increased by 10 percent to P1.63 billion. Revenues from higher trading activity, stronger market data income and the gain on Tektite office space made up for the slack in listing revenues.
“The Exchange’s successful execution of its major initiatives in 2017 resulted in this positive financial performance of the company. The new products and services that were introduced provided more mechanisms for capital-raising and supported our thrust of expanding the retail investor base,” PSE president and chief executive Ramon Monzon said Monday.
The year 2017 was a breakout year for local stocks, thanks to a much-awaited tax reform program seen to fund the government’s promise of a “golden age of infrastructure” alongside a generally favorable global environment that buoyed fund flows to emerging markets. The Philippine Stock Exchange index (PSEi) gained 25.1 percent for the year.
