Trading slowdown hits JSE’s revenue and profit
Shares in the JSE Ltd weakened on Wednesday, after the exchange’s holding company reported a drop in operating revenue and earnings.A decline in values and volumes traded caused operating revenue to fall 5% to R2.2bn for the year to December 2017, the JSE said. Group earnings fell 9% to R836m, with earnings per share falling by a similar margin.Shares in the JSE Ltd closed 1.96% weaker at R183,50.The year had been a challenging one for both the JSE and its clients, said CEO Nicky Newton-King.Cash equities trading revenue fell 11% to R507m on a decline in value traded. The primary market recorded a 10% increase in revenue to R181m, on additional capital-raising activity. There were 21 new listings in 2017, up from 18 in the prior year."We are pleased that, in this environment, we were able to grow the ordinary dividend to shareholders and continue to make year-on-year reductions in certain of our fees in order to find ways to make it more affordable for our clients to do business wit...
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