Hong Kong Exchanges and Clearing (HKEX) saw its profits surge to a record high in the second quarter, driven by a boom in initial public offerings (IPOs) and a strong upturn in stock market turnover, as per its latest filing.
This resulted in a 21% year-over-year increase in quarterly net profit, reaching HK$5.38 billion (US$683.4 million), or HK$4.26 per share, surpassing analysts’ estimates of HK$4.96 billion.
This marked the second consecutive quarter of record-breaking profits, following HK$5.19 billion in the first quarter.
HKEX further reported that its first-half profit rose 24% to a record HK$10.57 billion, exceeding analysts’ expectations of HK$10.15 billion and outperforming the previous year’s record half-year earnings of HK$8.52 billion.
To reward shareholders, HKEX announced an interim dividend of HK$7.43 per share, a 24% increase from the HK$6 per share in the previous year.
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