NZX HY result 2009

NZX HY Result 2009 - Profit Of $60m For The First Half


NZX has released its half year result for 2009 today, showing NPAT of $60.758 million.

The very substantial increase in NPAT, compared with last year’s $4.97 million, is largely attributed to the gain on sale from both TZ1 Registry and NZX’s ownership share in the Bond Exchange of South Africa (BESA).

NZX CEO Mark Weldon said, “With significant realised gains on strategic investments, the reshaping of the business into energy and agricultural markets, and a solid performance from the securities markets area, we are confident shareholders will be satisfied with these results. This profit figure of $60 million has been achieved via investment of retained earnings and organic investment.

” A new EBITDAF line has been added to the results reporting structure as an indicator of underlying performance. EBITDAF of $9.08 million in the first half of 2009 was up 3% on the same period last year. Excluding one-off items EBITDAF would be $10.19 million, up 16% on last year.

One-off expenditure items within this half year result include the NZX Board’s decision to account for the long term incentive portion of the CEO and senior management share scheme, expenditure on scoping potential investments NZX has decided not to pursue, costs associated with NZX’s capital raising, and one-off costs related to integration of newly acquired businesses. A key investment in the first half was the establishment and staffing of an NZX office in Auckland, focused on the introduction of new futures and commodities products.

“NZX activities are focused across infrastructure, markets and information. We recognise that information, including data generated on markets, indices, analysis, news and opinion, enables markets to develop and grow to their full potential.

“NZX’s strategy is building and growing markets. With expertise now applied across the securities, energy and agribusiness sectors, we have built a broader base from which to grow and are positive about future prospects,” said Weldon.