NZX's half-year profits fell by 46 percent due to write-downs. Photo: Supplied / NZX
Stock market operator NZX reports a drop in half-year profits due to write-downs.
Key numbers for the 6 months ended June compared with a year ago:
- Net profit $8.3M vs $15.55m
- Revenue $61.7m vs $58.3m
- Operating earnings $24.1m vs $22.8m
- Interim dividend 3 cents per share
Half-year profits fell by 46 percent at New Zealand's stock market operator, NZX, as it wrote down the value of its Quay Street Management purchase and some energy contracts.
Leaving aside the one-offs the underlying profit was a shade higher than a year ago.
"NZX's results show the benefit of the diversified range of financial infrastructure businesses we operate, and the variety of offerings available for companies to access capital," NZX chief executive Mark Peterson said.
He said it continues to maintain a strong focus on cost management, and costs focusing on integrating Quay Street Management and efficiencies in its Smart investment products.
Peterson said work was progressing well on the relaunch of the NZX 20 Index Futures which it expects will lift future earnings.
"Despite the challenging macroeconomic environment in the latter half of H1 2025, NZX remains well positioned through our growth strategy of expanding our capital markets' product range and driving scale and operating leverage across our financial markets' businesses."
Changes to the legislation earlier this year is expected to encourage more companies to list on the stock exchange.
NZX was forecasting full year operating earnings are expected to be in the range of $49.0m to $54.0m.
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