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Bursa Malaysia net profit down 26% in Q1

In a statement, Bursa Malaysia said total operating expenses in 1Q’19 which saw a marginal decrease by 1.4% to RM62mil from RM62.9mil a year ago continue to be well managed despite an increase in developmental expense.

The marketing and development expenses increased mainly due to the higher activities carried out by the Securities and Derivatives Markets.

Bursa Malaysia’s net profit fell 26.5% to RM46.85mil in the first quarter ended March 31, from RM63.78mil in the same period a year ago, mainly due to lower operating revenue.

The stock exchange operator said the decrease was primarily due to lower operating revenue by 16.2% to RM121.4mil from 1Q2018.

Revenue in the first quarter stood at RM126.52mil, down 16% from RM150.71mil from a year ago. Its earnings per share for the quarter stood at 5.80 sen against 7.90 sen previously.

While 1Q’19 was a weak quarter for the exchange, this was consistent with the prevailing domestic and global developments, which include concerns of slower economic growth, weaker corporate earnings and palm oil prices.

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