ASX lifts profit on technology investment

15 February 2018, Written by David Simmons

ASX lifts profit on technology investment

ASX (ASX: ASX) has reported a strong half-year result, with profit up by $11.1 million to $230.5 million on the back of a strong performance of its core business and a heightened investment in the group's technology systems.

All of ASX's results for the half were up, especially operating revenue which rose nearly 6 per cent to $409.0 million.

The group finished the half with earnings of $312.8 million and will pay an interim dividend per share of 107.2 cents - up 5.2 cents per share on the prior corresponding period.

Dominic Stevens, ASX managing director and CEO says the group's progress is looking healthy.

"ASX made good progress on many of our core initiatives," says Stevens.

"We continued to attract foreign and technology companies, with new listings drawn to Australia's large and deep pool of investable capital, expertise in funding early state enterprises and robust regulatory environment."

Stevens says improving critical infrastructure, like the implementation of the new features trading system and the ASX's administration of the Bank Bill Swap interest rate benchmark were big drivers of ASX's growth.

"The quality of ASX's infrastructure and our capacity to invest allow us to leverage our strengths into new areas the supplement the growth we receive from our core business," says Stevens.

"In part, this is driven by the global trends sweeping our industry, including customer demands for reduced complexity, lower costs, and access to more data and analytics."

Shares in ASX are up 2.88 per cent to $55.66 per share at 11.11am AEDT.

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Business News Australia

Author: David Simmons





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