Canada's TMX Group quarterly profit jumps on asset sales
Published Feb 12, 2018 21:48
Canada's TMX Group quarterly profit jumps on asset sales
Feb 12 (Reuters) - Canada's biggest stock exchange operator, TMX Group Ltd X.TO , said on Monday its fourth-quarter profit nearly quadrupled, boosted by gains from the sale of some assets last year.
Net income attributable to shareholders rose to C$202.3 million ($160.8 million), or C$3.63 per share, for the quarter ended Dec. 31, from C$52.6 million, or 95 Canadian cents per share, a year earlier. net income included gains from TMX's sale of Natural Gas Exchange Inc (NGX) and Shorcan Energy Brokers Inc to Intercontinental Exchange Inc ICE.N in a deal in October.
The Toronto Stock Exchange owner sold the assets to fund the acquisition Trayport, a London-based energy trading software firm, from Intercontinental Exchange.
TMX reported adjusted earnings per share of C$1.22 in the fourth quarter compared with C$1.18 a year earlier, reflecting lower operating expenses before acquisition costs.
Revenue fell 2 percent to C$170.9 million. ($1 = 1.2585 Canadian dollars)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.