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HKEX profit hits record high as IPO boom lifts trading activity

Second-quarter net profit rose 21.0% year over year to HK$5.38 billion, and HKEX will pay an interim dividend of HK$7.43 per share.

Reported · Written up by our desk · Asia

Hong Kong Exchanges and Clearing posted record profit, citing stronger initial public offering activity and high stock market turnover in the second quarter, according to a filing reported by SCMP Economy.

Quarterly net profit rose 21.0% year over year to HK$5.38 billion, or HK$4.26 per share, exceeding analysts’ estimate of HK$4.96 billion. It marked the second consecutive quarter of record profit, following a HK$5.19 billion profit in the first quarter.

HKEX also reported first-half profit increased 24.0% to a record HK$10.57 billion, compared with analysts’ estimate of HK$10.15 billion and above the prior year’s record half-year earnings of HK$8.52 billion.

Revenue and investment income for the first half rose 19.0% to HK$16.7 billion, and the company will pay an interim dividend of HK$7.43 per share, up 24.0% from HK$6 a year earlier.

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