NZX cut costs nearly 27% since 2016 and plans more this year

Thu, 04 Apr 2019

By Jenny Ruth April 5 (BusinessDesk) - Stock exchange operator NZX has cut costs by almost 27 percent since the end of 2016 and estimates expenses will fall a further 5.5-8 percent this calendar year. “People are our main investment and this reduction has been primarily driven by a fall in staff numbers following the disposal of our non-core businesses last year,” chair James Miller told the annual shareholders’ meeting. NZX’s operating margin continued to improve, rising 10.2 percent in 2018, and the exchange aims to improve that furt...

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