The Sharesies effect: NZX beats guidance as trading volumes soar

Wed, 17 Feb 2021

Stock market operator NZX beat its own guidance and analyst expectations as it lifted operating earnings 9.7 percent to $34.4 million in 2020.The stock market operator had already flagged its earnings were likely to be at the top end of its $30 million-to-$33.5 million projected range, and Forsyth Barr analyst Jamie Foulkes had picked it to come in at $33.6 million.However, a 12.8 percent lift in revenue to $78.4 million exceeded Foulkes’s forecast, largely thanks to a 42 percent increase in the total value of trading on the local market...

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