ESP profits increase 63% thanks to increased market activity – Manila Bulletin

The Philippine Stock Exchange (PSE) reported a 63% jump in its consolidated net profit to 377.98 million pesos in the first half of 2021 from the 231.76 million pesos earned in the same period last year.

In a disclosure, the exchange said its profit growth was largely due to the 30.94% increase in operating income to 741.35 million pesos in the first half of 2021 from 566.16 million pesos generated during the comparative period in 2020.

The PSE said earnings were boosted by the net improvement in the fair value of financial investments of 93.93% or 55.34 million pesos compared to the first half of 2020.

“The favorable variation in operating income is mainly due to the increase in the main sources of income, listing costs, transaction costs and service charges, which increased by 105.92 million pesos. , 28.61 million pesos and 53.90 million pesos, respectively, ”the exchange said.

On the other hand, investments in financial assets recorded a net loss amounting to P3.58 million less than 93.93 percent or P55.34 million compared to last year’s net loss of P58 , 92 million mainly caused by the improvement in the fair value of the parent company The company’s investment in equity funds.

Equity funds are managed by professional fund managers under a purely discretionary mandate.