NZX defies the odds: profit growth continues

NZX defies the odds: Consistent profit growth continues 23 February 2009 –

NZX has released its 2008 full year result showing NPAT up 17% to $10.18 million for 2008.

NZX CEO, Mark Weldon said, “Under extremely difficult trading conditions, NZX has delivered very strong profit growth in 2008.

NZX has operated in an environment of de-leveraging, declining asset values, reduced listing activity in the face of volatility, and the reshaping of global financial institutions - yet a strong financial performance has still been achieved.

“The 2008 financial result, with NPAT up by 17%, is a very strong performance, and reflects the success of the strategic reshaping of the business that has been underway for the last three years.

The best indication of the strength of the underlying franchise and strategy is that excluding TZ1, NZX operating EBITDA was up 28% in 2008, while the TZ1 Registry, an NZX investment, is currently in the due diligence stage of a sale for NZ $66 million.”

For comparison, the last results released by regional peer exchanges all show declining profitability. ASX NPAT was down over 8%, Singapore Exchange NPAT was down 37% and Bursa Malaysia NPAT was down 57%'

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ENDS

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