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Manila Bulletin devider Business devider PSE profits rise 63% on higher market activity

PSE profits rise 63% on higher market activity

Published Aug 23, 2021 06:00 am

The Philippine Stock Exchange (PSE) reported a 63 percent leap in consolidated net income to P377.98 million in the first half of 2021 from the P231.76 million earned in the same period last year.

In a disclosure, the bourse said its profit growth was largely brought about by the 30.94 percent increase in operating revenues to P741.35 million in the first semester of 2021 from the P566.16 million generated in the comparative period in 2020.

The PSE said earnings were boosted by the net improvement in the fair value of financial investments by 93.93 percent or P55.34 million compared with the first half of 2020.

“The favorable variance in operating revenues was mainly due to the increases in major revenue streams, listing-related fees, trading-related fees and service fees, which were higher by P105.92 million, P28.61 million and P53.90 million, respectively,” the bourse said.

On the other hand, investments in financial assets registered a net loss amounting to P3.58 million lower by 93.93 percent or P55.34 million from last year’s net loss of P58.92 million mainly caused by the improvement in the fair value of the Parent Company’s investment in equity funds.

The equity funds are being managed by professional fund managers under a purely discretionary mandate. 

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