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HKEX Q1 net profit to 1.575 bln HKD, up 34 pct year-on-year

Xinhua, May 13, 2015 Adjust font size:

Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday its quarterly results for the three months ended March 31 2015, with net profit up 34 percent year-on-year to 1.575 billion HK dollars (about 203.2 million U.S. dollars).

Earnings before interest, taxes, depreciation and amortization (EBITDA) equaled 2.078 billion HK dollars, up 30 percent yearly. Overall EBITDA margin was 74 percent, 5 percent higher than the first quarter of 2014. No dividend will be proposed for the first quarter.

During the period, revenue and other income jumped 20 percent yearly to 2.796 billion HK dollars. Operating expenses dropped 2 percent year-on-year to 718 million HK dollars.

According to HKEX, Shanghai-Hong Kong Stock Connect has been operating smoothly since its launch in November 2014. During the first quarter of 2015, the average daily trading turnover (buy and sell trades) of Northbound Trading and Southbound Trading was 5. 349 billion yuan and 1.392 billion HK dollars respectively. (1 U. S. dollar equals to 7.75 HK dollars) Endi