NZX shares climb as Kiwi Wealth sale shows Smartshares' value

NZX chief executive Mark Peterson said management saw a lot more value to come in the Smartshares business. (Image: NZX)

Dan Brunskill

Fri, 19 Aug 2022

NZX Ltd shares jumped another 2.3% today after the company reported its half-year earnings results and reiterated the value of its funds management business. The stock market operator said total revenue was up 8.8% at $46.2 million and operating earnings increased 2.8% to $17.4m, but net profit ultimately fell 3.2% to $7.4m.This was largely driven by increased cost pressures with operating expenses up 4.3%, driven by technology and staffing costs.In a note to clients, Craigs Investment Partners said the half-year result was “reasonab...

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