Bucharest Stock Exchange net profit surges by 156 percent on Q3 to RON 15.8 mln

Newsroom 10/11/2011 | 11:37

The Bucharest Stock Exchange (BVB) has increased its turnover by 53.6 percent to RON 16.9 million in the first three quarters of 2011, mainly due to increasing revenues from trading, the inflow of new participants and issuers and the vending of stock exchange data.

The operational profit of BVB gained 22 percent up to RON 6.7 million, nine months into 2011, from the RON 2.0 million reported at end-September 2010. In addition, the net profit increased by 156.2 percent to RON 15.8 million at end September 2011, from RON 6.17 million in the similar period of 2010.

The operating expenses totaled RON 10.1 million in the first nine months of 2011, up from the RON 9.0 million reported in the similar period of 2010, due to reductions in personnel expenses and marketing activities for new trading instruments, education activities for investors and the search of potential issuers.

“The financial results of the first 9 months are good and close to the target assumed earlier this year. It is important to mention that BVB recorded this year 3 consecutive quarters of operational profit, as compared to the operating loss recorded for Q3 last year. This result was possible due to the increase of the value traded on all markets operated by BVB, but also due to a strict cost control”, stated Valentin Ionescu, general manager of BVB.

The positive financial result is attributable to increasing trade value for market segments administered by BVB. upon the listing of Fondul Proprietatea and the growing interest of investors for structured products and futures contracts.

Ovidiu Posirca