The Johannesburg Stock Exchange( JSE) is reporting 8% fall in Revenue to ZAR1.1 billion for half year 2017 compared to ZAR1.2 billion recorded same period in 2016. Costs of sales grew by 1% to ZAR644 million in contrast to ZAR636 million in the year before.
Group earnings after tax decreased by 18% to ZAR419 million from ZARR513 million in 2016.
Although Primary Market revenue increased by 8% to R82 million against ZAR76 million in the year before largely owing to increased capital raising and new Equity Market listings in the first half of 2017 was 8 compared to 6 in the year before. revenue from most of the JSE’s business units declined during the first half of 2017:
Currency and Interest Rate Derivatives Markets increased by 26% to ZAR24 million versus ZAR19 million in the year 2016 following a 36% increase in the number of contracts traded) were offset by the other markets, where trading revenue remained flat or declined:
Revenue generated by BDA declined by 1% to ZAR150 million compared to ZAR152 million in 2016, including the impact of fee reductions of a further 8% in January 2017.
Information Services revenue declined by 11% to ZAR133 million against ZAR150 million in half year 2016. Of this, ZAR9 million is attributable to a forex impact on USD receipts.
Of the ZAR644 million operating expenses, personnel expenses decreased by ZAR1 million to ZAR245 million in contrast ZAR246 million in the previous year.
Technology costs declined by 3% to ZAR129 million against ZAR133 million in 2016. Depreciation increased by 23% to ZAR58 million from ZAR47 million in 2016.
General expenses have been well contained and rose by 1% to ZAR212 million against ZAR210 million in the previous year.