Dear ASX Shareholder,
On 15 February 2018, ASX Limited (ASX) announced strong half-year results for the six months to 31 December 2017 (1H18). Profit after tax rose 5.1% on the same period last year (1H17) to $230.5 million and was up 7.3%, or almost $16 million, on the preceding six months. The performance was driven by higher secondary capital raisings, increased futures trading – particularly from offshore – and growth in technical services connections and customers. While cash market trading was down amid low levels of market volatility, revenue from information services increased with an expanded range of products.
ASX's expenses rose 6.7%, with an underlying increase of 3.1% that excludes some step changes such as higher rent, electricity, postage and ASIC levy costs. Our capital expenditure is expected to be circa $50 million for the full-year, with continued investment in existing and new technology