The ASX recorded a profit after tax for the first half of the 2021 financial year of $8.6 million, a 3.4 per cent fall from the previous year, despite its revenue rising by 3.4 per cent, or $15.6 million, to $470.5 million.
Earnings before interest and tax (EBIT) had slightly climbed, up by 1.3 per cent to $4 million.
Dominic Stevens, managing director and chief executive of the ASX, commented that revenue across the exchange’s cash equities-related activities, particularly in trading, and listing and issuing services had grown, offsetting the impact of COVID-19.
There were 85 new listings during the period, up more than 50 per cent on the previous year. The total amount of capital raised had also risen from the previous year, spurred by IPO capital to go up by almost a quarter (24 per cent) to $52 billion.
Operating revenue from listings and issuers services grew by 11.4 per cent to $127.6 million for the half while trading services saw a 4.2 per cent lift to $130.2 million.
But the exchange’s derivatives and OTC business were impacted by the RBA’s yield curve control measures, in response to the COVID crisis. The segment’s revenue fell by 7.7 per cent to $144.6 million.
Capital expenditure was $54.5 million for the half, with the ASX signalling its full-year costs will be more than expecting, increasing its guidance to $110 million-115 million.
The amendment reflects “expenditure to cater for higher volumes, the expanded CHESS replacement program and ASX’s ongoing commitment to strengthen our foundations to build an exchange for the future”, Mr Stevens said.
The board declared a fully franked $1.12 dividend for the half, 4 cents lower than the prior corresponding period.
Meanwhile, ASX chairman Rick Holliday-Smith will be stepping down from his role after nearly 15 years on the job.
