ASX registers rise in profits in FY22
ASX Limited today reported its financial results for the full year to 30 June 2022 (FY22).
ASX has delivered a solid full-year result, driven by revenue growth of 7.5%, up $71.2 million to $1,022.7 million on last year. EBIT grew by $48.0 million, a 7.5% increase to $689.2 million.
Net profit was up 5.7%, rising by $27.6 million to $508.5 million.
Earnings per share and dividends both increased 5.7% in line with net profit.
Total dividends (interim and final) rose to 236.4 cents per share, fully franked, maintaining ASX’s 90% dividend payout policy.
The Exchange continues to benefit from its diversified business model. It saw decade-high levels of listings activity, particularly in the first half, with 217 new listings in the period – the highest number since FY08. And the total amount of capital raised increased 56% to $159.4 billion (excluding the BHP capital unification), a new record overall.
The Markets business benefited from higher equity trading activity and demand for commodities products. However, this was partly offset by the impact of the lower interest rate environment on futures volumes. On-market equity trading increased, with a daily average value across the period of $6.7 billion, up 15%.
The increase in market activity also supported revenue growth in ASX Securities and Payments business. ASX’s Technology and Data business benefited too, with higher demand for market and benchmark data, and for ASX connectivity and data centre services.
Ms Helen Lofthouse, ASX Managing Director and CEO, provided a comment on the CHESS replacement project:
“We have identified that more development is needed in parts of the application software to meet the market’s scalability and resilience requirements for new CHESS. We have commissioned an independent review of the application by Accenture to investigate specific areas in the application that are presenting challenges, to consider possible solutions and to provide input on the timeline for implementation.
I am disappointed that we have extended the timeline for go-live for a third time, and I know that our customers are disappointed too. But we all agree that new CHESS must be implemented safely and with the functionality to serve the market’s needs.”