NZX more than doubles 1H profit as it focusses on cutting costs, business review

Mon, 14 Aug 2017

By Sophie Boot Aug. 15 (BusinessDesk) - NZX more than doubled first-half profit though revenue dipped slightly, with operating expenses falling as it streamlined operations as it seeks to focus its business. Net profit rose to $7.95 million in the six months ended June 30 from $3.58 million a year earlier, the market operator said in a statement. NZX sold out of its unprofitable Clear Grain Exchange and agri magazines businesses in the fourth quarter of 2016, resulting in a 3.6 percent revenue drop to $36.6 million. With that stripped out...

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