TMX Group increases Q1 net income by 23 per cent on higher revenues
TORONTO - TMX Group Ltd. (TSX:X), the operator of the country's largest stock market, is reporting a higher first-quarter net income of $46.4 million, or 86 cents per share.
That's up 23 per cent from $37.8 million, or 70 cents per share, in the same quarter of 2013.
The owner of the Toronto and TSX Venture stock exchanges, Montreal derivatives market and other securities exchanges says revenue was $182.1 million, up six per cent, compared with revenue of $172.2 million year-over-year.
TMX Group's adjusted earnings per share diluted for the three months ended March 31 were $1.05, excluding acquisitions and other costs. That's up 35 per cent from 78 cents in the same quarter last year.
"We are extremely pleased with the company's operating performance this past quarter across all of our businesses," CEO Thomas Kloet said in a statement on Friday.
"In particular there was evidence of some turnaround in market activity, which translated into increased additional financings on Toronto Stock Exchange as well as higher cash, Canadian derivatives and energy markets trading and clearing volumes," he said.
Kloet said the integration of TMX Group Inc. with two companies acquired from the Maple Group is now largely complete.
The Maple Group's members, which included several major Canadian banks, pension funds and other financial businesses, became the leading shareholders of TMX Group during 2012.
As part of the deal, TMX Group acquired Maple Group's Alpha trading system and CDS Inc., which runs the main clearing house for Canadian securities.
Read more Business News
- Sun win one for fallen mateBCFC
- New cell tower?West Kelowna
- Social media thwarts shoplifterPenticton / S. Okanagan
- New Sockeye hatcheryPenticton / S. Okanagan
|QHR Technologies Inc||1.37||+0.05|
|Anavex Life Sciences||0.223||-0.0031|
|Copper Mountain Mining||2.66||-0.02|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.29||-0.01|
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...
Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...