Irish Stock Exchange's pre-tax profits up 15% in 2013

Wednesday 04 June 2014 17.23
Irish Stock Exchange's revenues rose by 12% to €22.9m last year
Irish Stock Exchange's revenues rose by 12% to €22.9m last year

The Irish Stock Exchange has posted pre-tax profits of €7.2m for 2013, a 15% increase on the previous year.

The ISE said its revenues rose by 12% to €22.9m from €20.4m mainly on the back of strong growth in listing debt securities.

It said that revenues at its Primary Markets business, which includes debt securities, grew by 17% to €15.4m and accounted for 67% of its total revenues.

At the end of December 2013, the ISE said it had about 30,000 securities from 4,000 issuers in 78 countries listing their securities on its markets.

Five new companies list on the ISE last year, including Hibernia REIT, Green REIT and engineering company Mincon.  

Due to the prevailing lower interest rate environment, the ISE said its income from investments fell from €1.2m in 2012 to €0.8m in 2013. 

"Our performance in 2013 shows the Irish Stock Exchange is a vibrant, growing business," commented the ISE's chief executive Deirdre Somers.

"We benefited from much better market conditions in 2013. The diversified nature of our business and the depth of our customer relationships meant we were well placed to take full advantage of the opportunities that arose during the year," Ms Somers added.