NZX Sees 16% Decline in Net Profit in H1 2021

NZX, the only registered securities exchange in New Zealand, recently reported its financial results for the first half year of 2021, indicating a slip in the net profit on a YoY basis.

More specifically, the exchange registered a net profit of NZ$7.6 million (around $5.29 million), 16% lower than the previous year. The total value of the assets traded on the exchange came in at NZ$27.1 billion, down by 2.8% from a year earlier. Operating earning came in at NZ$16.9 million, showing a decrease of 3.5% compared to the prior year. Revenue rose 10.6% to NZ$42.5 million.

Wanna be the Next Cover Person of Fazzaco Magazine?

In addition, the margin of the exchange came in 39.9 percent lower due to the investment in growth activity alongside increased spend on people and technology costs.

“NZX is continuing to make good progress in building a diversified financial markets infrastructure and services business,” said Mark Peterson, Chief Executive of the exchange. “Our achievements and results for the half-year 2021 reflect this ambition, with strength across all our business activities.”