JSE Limited reports resilient performance through pandemic
JOHANNESBURG - JSE LIMITED (JSE) lifted earnings before interest and tax, depreciation and amortisation by 19 percent in the year to December 31 after a strong balance sheet and cash generation sustained its financial resilience through the pandemic.
Net profit after tax grew 12 percent to R778 million.
JSE group chief executive Leila Fourie said the JSE’s operational dependability demonstrated throughout the pandemic was a result of its multi-year investment in technology infrastructure, key skills and a focus on building lasting relationships of trust with clients and stakeholders.
“That is why I am pleased to share a strong set of results for 2020. As much as these results reflect the near-term impact of market volatility, they also echo the enduring value created by the exchange,” she said.
Total revenue increased by 13 percent to R2.5 billion, with both operating income and total revenue at record highs. The cash balance was stable at R2.5 bn at the end of December and the board declared an ordinary dividend of 725 cents per ordinary share, an increase of 5 percent over the 2019 ordinary dividend of 690c per share.
This was equivalent to an ordinary dividend pay-out of distributable profits of 83 percent in 2020 – it was 87 percent in 2019. Revenue for the primary markets operations increased by 3 percent to R152m.
Initial public offerings remained under pressure in 2020, with four deals for the year, compared with five in 2019.