JSE Limited: Half-year profit expected to triple

Increased trading activity on JSE platforms – particularly the equity, financial derivatives, interest rate and currency markets – as well as a strong performance in post-trade and market data services have resulted in the local stock exchange operator expecting to triple its earnings for the six months to June. JSE Limited advised yesterday that its basic earnings a share were expected to be between 180 percent and 200 percent higher than the R1.17 a share it reported in June last year. Headline earnings a share were expected to be between 20 percent and 40 percent higher than the previous year’s R2.455. The JSE said the absence of an impairment and its associated tax consequences in the six months to June also contributed to earnings growth because the financial results of the first half of 2012 had an impairment of R72.6 million. Results for the six months are expected to be released on August 13. The JSE’s shares advanced 3.69 percent to end at R80 yesterday. – Londiwe Buthelezi