Bursa Malaysia 1Q earnings up 1% to RM40.77mil

KUALA LUMPUR: Bursa Malaysia Bhd posted net profit of RM40.77mil in the first quarter ended March 31, 2012, up just 1% from the RM40.49mil a year ago.

It said on Thursday its revenue dipped 4.8% to RM110.52mil from RM116.11mil while earnings per share were 7.70 sen compared with 7.60 sen.

Bursa Malaysia chief executive officer Datuk Tajuddin Atan said the stock market rally in March, which saw the FBM KLCI hitting an all-time closing high of 1,606.63 on April 3, together with better cost management, enabled to record higher earnings despite the lower revenue. The stock exchange operator's total operating expenses fell 9% to RM52.7 million compared to RM57.9 million in the first quarter of 2011.

“Securities market's trading revenue was RM50.5mil for the period under review compared to RM57.7mil in the corresponding period. Average daily trading value (ADV) was RM1.97bil for the first quarter of 2012 compared to RM2.23 billion in the first quarter of 2011,” he said.

Tajuddin said the derivatives market's trading revenue was RM11.2 million in Q1 2012 versus RM13mil in Q1, 2011.

He added total operating expenses fell 9% to RM52.7mil from RM57.9mil a year ago due to an overall better management of costs. Cost-to-income ratio improved to 48% from 50% in the corresponding quarter last year.

Tajuddin said when compared with Q4 2011, Bursa Malaysia registered a 30% increase in net profit from RM31.3mil. Total operating revenue increased 18% from RM84.9mil and total operating expenses increased 3% from RM51.4mil in Q4 2011.