PSE scores P825M net profit

The Philippine Stock Exchange got 825 million higher revenue compared with the last year’s 18 percent increase which featured one-time, big-time gain on the sale.

“The Exchange’s successful execution of its major initiatives in 2017 resulted in this positive financial performance of the company. The new products and services that were introduced provided more mechanisms for capital raising and supported our thrust of expanding the retail investor base,” PSE president and chief executive officer Ramon Monzon highlighted in his press statement.

Higher trading activity, the stronger market data income plus the large gain of the Tektite office boosted the revenue generation and caused the increase of operating revenues and other income last year.

The anticipation for the tax reform program which has aim to fund the “Build, Build, Build” infrastructure of the administration benefitted the last year as the breakout year for the PSE.

Addition to this, favorable global market expanded the generation of PSE’s revenue and gained 25.1 percent for the 2017 with the conclusive growth of 8,559.42 on the final trading session.

“We have set even bigger targets and milestones for the Exchange in 2018. With our stock rights offering proceeding within schedule, we hope to finally get the exemptive relief from the SEC for our acquisition of PDS (Philippine Dealing Systems Holdings Corp.). The consolidation of the equities and fixed income markets will result in a bigger and more efficient capital markets for the country,” Monzon added.

Name-on-central-depository will give the investors accessibility to their shareholding positions and eventually they will receive depository monthly reports on their stock position monthly.

“We expect an increase in some expenses this year related to the integration of PDS into PSE as well as the one-time expenses related to PSE’s move to its new offices in BGC.” Monzon envisioned.