NZX 3rd-qtr revenue bolstered by expanding funds management division

Sun, 28 Oct 2018

By Rebecca Howard Oct. 29 (BusinessDesk) - NZX's third-quarter sales rose 3.8 percent as its funds management division made up for lacklustre performances in its core operations. Revenue from continuing operations lifted to $17.3 million in the three months ended Sept. 30, from $16.6 million a year earlier, as funds management revenue climbed 25 percent to $4.1 million. NZX expanded its funds management business under the leadership of Tim Bennett, buying SuperLife in 2014. The funds management unit hit its targets, meaning NZX paid t...

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