Thursday, January 27, 2011

Bursa Malaysia Bhd's net profit fell 69% to RM29.8mil

KUALA LUMPUR: Bursa Malaysia Bhd's net profit fell 69% to RM29.8mil in the fourth quarter ended Dec 31, 2010 from RM96.3mil a year ago.
The lower profit was mainly due to the RM76mil gain on disposal of 25% equity interest in Bursa Malaysia Derivatives in the fourth quarter of 2009.
“If the gain on disposal was excluded from the group's fourth quarter 2009's profit, the fourth quarter of 2010's profit would be 47% or RM9.5mil higher,” the stock exchange said in the notes accompanying its financial results.
Revenue for the quarter fell to RM101.9mil against RM157.4mil a year ago while earnings per share were 5.60 sen versus 18.20 sen.
For the full year ended Dec 31, 2010 (FY11), Bursa Malaysia posted a net profit of RM113mil, or 21.30 sen per share on revenue of RM361mil. Operating revenue for the period was higher at RM331.2mil versus RM297.8mil in FY09.
“We are pleased with our results which is on the increase year on year. We are confident that the company is well-positioned for continued growth for this year, in view of the positive market sentiment that we have witnessed.
“The steady performance of the securities market demonstrates the confidence of investors in capitalising on the growth prospects of the economy and positive transformation plans by the Government,” Bursa Malaysia CEO Datuk Yusli Mohamed Yusoff said in a separate statement.
Source: The Star, 27 Jan 2011

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