INTERIM RESULTS
JSE delivers strong earnings growth
JSE Ltd enjoyed the tailwinds of increased market activity during the first half of 2018, which together with strong cost containment allowed it to deliver impressive earnings growth for the period. Headline earnings per share rose by 34% to R6.54 for the six months to the end of June. Top line growth was less impressive, with revenue advancing 7% to R1.2bn. Most of the exchange’s capital markets activity saw increases in revenue, most notably the cash equities market, which saw revenue rise by 12%. "They are strong results, reflecting a strong first quarter and a more benign second quarter," said Nicky Newton-King, CEO of the JSE. While she was happy with the results, cost control would remain a focus. Expenses over the period were 5% lower owing largely to a reduction in headcount that has seen staff numbers at the end of the period fall by 92 to 362 when compared with a year ago. This was largely due to a retrenchment programme that began in 2017. A reduction in technology costs ...
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