PSE profits more than double as of Sept

ABS-CBN News

Posted at Nov 16 2012 04:05 PM | Updated as of Nov 17 2012 03:17 AM

MANILA, Philippines - The Philippine Stock Exchange, Inc. (PSE) realized a 103% growth in its net income to P484.95 million in the nine months to September from a year ago.

Revenues of the PSE went up 39% to P833.98 million, while cost and expenses increased by 4% to P321.28 million. Other income of the firm also ballooned 171% to P101.13 million from P37.29 million.

"While the company has benefited tremendously from the favorable economic environment and sky-high optimism in the Philippines, we hope to further sustain the profitability of our operations as we continuously work to introduce new products and put in place corporate governance enhancements in the market," PSE President and Chief Executive Officer Hans B. Sicat said in a statement.

A bullish outlook on the economy helped drive listing-related revenues up by 61.3% to P406.05 million, while service fees climbed 25% to P233.51 million.

PSE also booked P148.75 million in trading revenues and P29.907 million in regulatory fees during the current nine-month period.

"The PSE continues to be committed to excellence and prudent financial management as it endeavors to improve its financial performance every year to provide value to its shareholders," Sicat said.