PSE earnings rise 16.75% to P566M in 9 mos

MANILA, Philippines - An active equities market allowed the operator of the country’s sole stock exchange to book higher earnings in nine months ending September this year.

The Philippine Stock Exchange (PSE) said it earned P566.17 million during the period, up 16.75 percent from P484.94 million last year.

“The company’s operating revenues went up by 20.66 percent or an increase of P172.27 million as compared with the same period last year brought about by the increase in almost all of its major components,” PSE said.

Trading-related income, inclusive of the amount ceded to Capital Markets Integrity Corp. as regulatory fees, surged 42.29 percent to P75.55 million.

Higher trading-related earnings resulted from robust trading volume, which averaged P10.88 billion daily in September from P7.07 billion a year ago, PSE said.

However, listing-related income slipped by P25.51 million or 6.28 percent as listing fees from initial public offerings (IPOs) and additional listings dropped by P41.32 million, which was partially offset by higher listing maintenance fees of P15.38 million, it added.

In the nine-month period, listing activities included the IPOs of Philippine Business Bank, Asia United Bank and microfinance firm AG Finance Inc. while Del Monte Pacific Ltd. listed by way of introduction.

Service fees generated by PSE’s wholly-owned subsidiary, the Securities Clearing Corp. Philippines, jumped 52.33 percent amid higher trading volume.

Total expenses, derived from costs of services, and general and administrative expenses, rose 10.13 percent to P353.83 million.

PSE has launched numerous programs to stir investor interest in the local stock market. It is also developing new products to diversify investment options.

For instance, it has launched the online trading platform PSETradex. Other activities include the listing of the country’s first exchange traded funds in December and the rollout of Philippines-linked derivatives products.