Thursday, 19 April 2012

Bursa posts flat 1Q profit , trading income falls

KUALA LUMPUR (April 19) : BURSA MALAYSIA BHD [] posted flat profit growth in the first quarter as the stock exchange operator’s lower operating expenses mitigated the impact of less revenue during the period.

In a statement on Thursday, Bursa Malaysia said its net profit rose 0.7% to RM40.77 million in the quarter ended March 31, 2012 from RM40.49 million a year earlier while revenue fell 4.8% to RM110.52 million from RM116.11 million.

Bursa said revenue declined due to less trading income from the securities and derivatives market. Looking ahead, the group said it foresees global volatility due to the European sovereign debt woes, slowing growth in China, and rising crude oil prices.

The bourse operator, however, said it expects its earnings to be sustained by the implementation of domestic public projects under the Economic Transformation Programme which is seen as a crucial driver of the local economy.

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