PSE posts 34.7% profit growth

The Philippine Stock Exchange grew its first semester net profit by 34.7 percent year-on-year to P341.72 million as higher interest income on its cash and other financial assets alongside higher fair value of investments made up for the slack in core business.

From January to June, PSE’s operating revenue fell 13.5 percent year-on-year to P605.24 million on lower trading-related fees and listing-related fees.

However, other income surged by 640.7 percent year-on-year to P176.29 million. Interest income on bank deposits and other financial assets nearly tripled to P104.73 million alongside higher equity in the net income of 20.98-percent owned associate Philippine Dealing System Holdings Corp. There was also some mark-to-market windfall on investments.

Total expenses declined by 6.1 percent year-on-year to P364.50 million in the first six months.—DORIS DUMLAO-ABADILLA