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HKEx's profit for first half of 2007 more than doubled
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08:15, August 16, 2007

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The bluechip Hong Kong Exchanges and Clearing Limited recorded an attributable profit of 2.33 billion HK dollars ( 0.3 billion U.S. dollars) for the first half of 2007, more than doubling its net profit for the same period last year, the company, known as HKEx, said Wednesday in its interim report.

Its net profit for the first half of 2006 was 1.11 billion HK dollars, said the HKEx.

The company's income for the first half year was 3.16 billion HK dollars (0.4 billion U.S. dollars), up 67 percent from a year earlier.

The better-than-expected results were mainly attributed to a big increase in stock and derivatives turnover. Average daily turnover on the Stock Exchange reached 59.2 billion HK dollars, compared to 32.6 billion HK dollars a year earlier, leading to more fees charged by the HKEx and, therefore, higher income.

Higher income from its information service and better return from investments, among others, contributed to the growth, the report said.

The company declared a dividend of 1.79 HK dollars a share, up from 0.94 HK dollar a year earlier.

HKEx chairman Ronald Arculli said the bourse is expected to benefit from the mainland's recent decision to allow financial institutions to increase their overseas investments.

Source: Xinhua

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