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The Philippine Stock Exchange in Makati City. (TMM file photo)

Bourse sales up 18% to P662M in 1st half

By Riza Lozada

The stock market’s operating revenues for the first six months of the year rose by 18.1 percent to P662.53 million from P560.81 million a year ago, mainly due to double digit gains in listing- and trading-related fees, the Philippine Stock Exchange Inc. (PSE) said.

Listing-related income went up by 37.2 percent on the back of initial public offerings and stock rights offerings during the January to June period. Trading-related income, on the other hand, registered a 12.2 percent increase on higher trading volume. Average daily value turnover at the end of the semester was at P8.08 billion from P7.51 billion in the same period last year. Service fees from the Securities Clearing Corporation of the Philippines also rose by 6.7 percent.

Meantime, other income declined to P77.54 million from last year’s P156.41 million on the absence of a non-recurring income from the prior period while total expenses increased by 10.9 percent. This resulted in a net income of P345.15 million, lower by 7.4 percent from the P372.70 million posted in the first half of 2016.

“The favorable investment backdrop provides basis for more trading and listing activities. This should support further growth in our revenues,” said PSE President and CEO Ramon Monzon.

Capital raised in the first six months of 2017 amounted to P106.74 billion, which is 92.0 percent higher than the P55.59 billion raised in the same period last year.

“The PSE remains committed to completing its major projects this year which includes the integration of the equities and fixed income exchanges as well as the introduction of new technology systems and new products for the market,” Monzon added.

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