ASX full year earnings dip

Source: ASX

Financial Highlights:

Statutory profit after tax $339.2 million, down 3.7%

  • Earnings per share 193.7 cents, down 3.9%&

Underlying profit after tax (excluding significant items) $346.2 million, down 2.9%

  • Operating revenue $610.4 million, down 1.2%
  • Interest and dividend revenue $49.8 million, up 5.1%
  • Cash operating expenses $141.1 million, up 4.1%
  • Earnings per share 197.6 cents, down 3.1%&

Final dividend 85.1 cents per share fully franked, down 8.5%

  • Full-year dividend 177.9 cents per share, down 2.9%
  • Payout ratio 90% of underlying profit after tax&

Significant items $7.0 million after tax

  • Redundancies and premises consolidation

Capital expenditure $39.1 million in line with guidance

  • New data centre completed and operational
  • Initiatives tracking to plan

Mr Elmer Funke Kupper, ASX Managing Director and CEO, said: "After a strong start to the year, market conditions weakened as the year progressed. In the first half, 2.8% revenue growth translated into 2.9% earnings growth. In the second half, revenue fell by 5.1% and underlying earnings declined by 8.6%, as both retail and institutional investors reduced their risk appetite and activity levels. This was particularly evident in the businesses that service Australia's equity markets, including Listings, Cash Markets and Information Services. The decline in these businesses was largely offset by revenue gains in Derivatives, Technical Services and Austraclear. This shows the benefits of having a well-diversified revenue profile.

"ASX has a strong balance sheet that allows the company to continue to invest in technology and new products and services. The final dividend of 85.1 cents per share and the full-year dividend of 177.9 cents per share reflect a 90% payout ratio of underlying profit after tax, consistent with previevious results." 

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