Irish Stock Exchange Reports Strong Pre-Tax Profits For 2011

11/06/2012

  • Revenues rise 4% to €21.3m in 2011 (2010: €20.5m)
  • Pre-tax profits before an exceptional pension charge of €2m were €6.6m (2010: €5.5m)
  • International revenue marginally up despite historically low product issuance globally
  • Irish revenue up 13% on the back of stronger trading volumes in the Irish market

The Irish Stock Exchange (ISE) has reported revenues of €21.3m for 2011, a 4% increase on 2010.

Pre-tax profits after an exceptional pension charge of €2 million were €4.6m (a decrease of €0.9m on 2010). The charge arose from a decision to close the ISE’s defined benefit (DB) pension scheme in 2011. The DB scheme has been replaced by the ISE’s defined contribution plan.

Primary Market business (from listing international funds and debt securities) representing 64% of revenue recorded a slight increase to €13.7m (2010: €13.6m). While the ISE remains an attractive listing venue internationally, with over 4,000 issuers from 45 countries choosing to list fund and debt securities on the ISE, primary market listings has been affected by the low level of product issuance globally in recent years.

Irish Market business (from equity listings, membership fees and information products) representing 32% of revenue increased by 13% during 2011 to €6.9m (2010: €6.1m). This follows a 14.2% rise in equity trading volumes on the Irish market during 2012 as compared to 2011. Total trades for the year exceeded 2.4m (2010: 2.1m).

ISE chief executive Deirdre Somers said the ISE delivered a strong performance in 2011 despite the challenging environment in international capital markets.

“After the turbulence of 2009 and 2010, there was some improved stability in the markets during 2011 and this has been reflected in the Irish Stock Exchange’s revenues. We have seen a strong performance across our diverse range of revenue streams,” she said.

“We will continue to focus on developing our business, identifying new sources of revenue while delivering our existing services efficiently and cost-effectively”.