Pretax profit at ISE rises 15 per cent in 2013

Revenues were up 12 per cent compared to the previous year, on strong growth in its primary markets business

Pretax profit at the Irish Stock Exchange rose 15 per cent in 2013, reaching €7.2 million, new figures show.

Revenues were up 12 per cent compared to the previous year, at €22.9 million, as its primary markets business, which includes international debt, fund and equity listings, showed strong growth on the back of listing debt securities.

There were five new equity listings during 2013, the highest number of new IPOs since 2007. By the end of the year, there were about 30,000 securities from 4,000 issuers in 78 countries listing on the markets.

"Our performance in 2013 shows the Irish Stock Exchange is a vibrant, growing business," said chief executive Deirdre Somers. "We benefited from much better market conditions in 2013. The diversified nature of our business and the depth of our customer relationships meant we were well placed to take full advantage of the opportunities that arose during the year."

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About a third of ISE revenue came from traded markets business, which includes income from market data sales, transaction income, infrastructure and membership fees. That revenue rose 6 per cent to €7.5 million as revenue from ISE Xetra transaction charges rose and sales of equity and bond market data, and new revenue streams contributed.

Operating costs were 8 per cent higher at €16.5 million, and lower interest rates hit income from investments.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist