Bucharest Stock Exchange profits surge by 185 percent, to RON 12.5 mln, on H1, 2011

Newsroom 11/08/2011 | 11:56

Bucharest Stock Exchange (BVB) registered a 28 percent increase in net turnover, from RON 8.5 million in the first half of 2010 to RON 10.9 million. This gain was attributable to a 43 percent increase in the turnover of shares and fund unit markets (including DEAL trades) up to RON 5,804 million, from RON 4,067 million in the first half of 2010. Other contributions came from increased turnover in structured products markets and issuers’ related revenues.

Trading revenues increased to RON 9.64 million, from RON 7.12 million in the first half of 2010. Issuers’ related revenues also increased from RON 0.48 million in the first half of 2010 to 0.54. The net profit per share increased to RON 1.63, up from the RON 0.57 value registered in the first half of 2010.

“The first 6 months of this year reveal an increase in average daily turnover on most markets operated by the Bucharest Stock Exchange, along with the listing of new companies and instruments. If the first quarter was characterized by increasingly better prospects for the Romanian economy and the capital market in general, the second quarter drew attention to the sovereign debt crisis. The uncertainty in the region has affected investors’ appetite for risk. As a result, many stock exchanges in the region, including BVB, have been undergoing an auspicious period, characterized by decreasing in indices and trading values. However, BVB’s half yearly 2011 results are in line with our expectations”, said Valentin Ionescu, General Manager of BVB.

BVB recorded an EBIT operating profit of RON 4.26 million, which is a 78 percent gain to RON 2.40 million posted in the first half of 2010.  The net profit increased by 185.6 percent, to RON 12. 5 million, from the RON 4.38 million result in the first half of 2010.

Financial activity results increased to RON 9.14 million, from RON 2.84 million in the first half of 2010. This increase was attributable to dividends recorded from the Central Securities Depositary, amounting to RON 8.20 million as well as by interest revenues.

The operating expenses slightly increased to RON 6.64 million, while personnel expenses decreased by 6 percent in the first half of 2011, to RON 3.17 million.

Ovidiu Posirca

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