REPORTING SEASON: ASX Limited (ASX)
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Figure 1: ASX Limited 12 month chart
ASX Ltd (ASX) IPOs and capital raisings boosted FY15 results
– FY15 was a very solid year for ASX Ltd. The company posted a 6.4% rise in revenue that can be attributed to; a 14% rise in listing and issuer service fees and a 10% lift in Austraclear (debt market services). The ASX listed 120 new companies via IPO helping to raise $39Billion and a further $50Billion being raised in the secondary capital market.
– Revenue from the derivatives and Over the Counter (OTC) markets fell by 7% even with a 10.9% lift in basis single stocks and equity derivatives revenue. The ASX’s decision to cut the cost of its electricity derivatives transaction fees from 1 July 2014 and interest rate derivatives from 1 October 2014 impacted revenue. Cash trading and clearing increased over the year by 6.7% and the ASX saw an 8.3% rise in the revenue generated from is technical services unit.
– ASX’s operating expenses increased by 4.2% largely driven by restructure charges of $7.7Million for technology transformations. CAPEX totalled $44.4Million in FY15 in line with expectations. The company’s plans to increase data services and replace CHESS will see a lift in CAPEX in FY16 $45-$50Million as the company looks to expand its offering and expand its Asian footprint.
– The ASX will pay a final dividend to shareholders of $0.951 a share on the 23rd of September 2015.