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Hong Kong Exchanges & Clearing Ltd on Thursday said its financial results last year were the second best on record, though still below what it called an ‘exceptional 2021’, despite a soft finish.
Attributable profit in 2023 was HK$11.86 billion, about $1.51 billion, up 18% from HK$10.08 billion in 2022, though still below HK$12.54 billion in 2021.
Core business revenue was HK$18.94 billion, up 3.1% from HK$18.37 billion.
In the fourth quarter alone, attributable profit was HK$2.60 billion, down 13% from HK$2.98 billion a year before, on core revenue of HK$4.52 billion, down 5.4% from HK$4.77 billion.
Basic earnings per share were HK$9.37 in 2023, up 18% from HK$7.96 in 2022, and were HK$2.05 in the fourth quarter, down 13% from HK$2.35 a year before.
HKEX explained that revenue declined in the fourth quarter due to reduced trading and clearing fees from Cash & Derivatives Markets, partly offset by an increase in London Metal Exchange trading and clearing fees and by higher net investment income from Margin Funds and Clearing House Funds.
HKEX declared a final dividend of HK$3.91, up 6.0% from HK$3.69 a year before. This gave a full-year payout of HK$8.41, up 18% from HK$7.14.
‘Looking ahead, whilst the macroeconomic and geopolitical environment remains turbulent, we are cautiously optimistic that, as sentiment improves, we are well placed to capitalise on the global pivot to Asia, on Hong Kong’s unique role as an East-West superconnector, on our unrivalled China advantage and on the megatrends, such as sustainability, that are shaping capital markets around the world,’ said Chief Executive Officer Nicolas Aguzin.
HKEX shares closed down 0.8% at HK$242.80 in Hong Kong on Thursday.
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