JSE pins hopes on diversification as its interim revenue dips
CEO Leila Fourie says earnings should be expected after Covid-19 but believes new revenue streams will spur growth
The JSE is hoping its diversification strategy will help it tap into new revenue streams as a weak domestic economy, the impact of the pandemic and a steady decline in listings continue to squeeze the exchange’s profitability.
Africa’s biggest stock exchange by market value said on Thursday that revenue in the six months to end-June slipped 6% to R1.24bn while earnings per share dropped 26% to 420.2c. The JSE pinned the blame for the decline in earnings on factors outside its control such as the rand-dollar exchange rate, market volatility and a difficult operating environment in the wake of the Covid-19 pandemic...