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CSE increases revenue in 2014 Vote_lcap16%CSE increases revenue in 2014 Vote_rcap 16% [ 43 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » CSE increases revenue in 2014

CSE increases revenue in 2014

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1CSE increases revenue in 2014 Empty CSE increases revenue in 2014 Wed Jun 03, 2015 9:28 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The Colombo Stock Exchange (CSE) revenue increased by 25% to Rs. 961 million in 2014 from Rs. 771 million in 2013.
This was mainly due to the increase seen in CSE and Central Depository System (CDS) fee income, sale of information income and listed company income. The group profit tax crossed Rs. 30 million during the year recording a strong growth over the previous year. The CSE increased daily turnover by over 70% which was reflected by 25% increase in revenue in the last financial year. This was reflected in the CSE 2014 annual report.
This increase resulted in an operating profit of Rs. 75.1 million. As a result the total comprehensive income increased to Rs. 30 million. Within an atmosphere of increasing operating costs and a series of anticipated capital expenditure, the CSE hotels to increase income by diversifying avenues of revenue generation and looking to more profitable areas on investments.
CSE increases revenue in 2014 Z_pi-CSE-02
During the year ASPI Reached 7,500 while the Market Capitalization surpassed Rs. 3 trillion.This was 32% of the GDP. Market Capitalization surpassed Rs. 3 trillion and turnover to market capitalization was 12.3%.
One of the notable features of the last year was the Highest Foreign Purchases in history, which was at Rs 104.7 billion.
Another highlight was the S&P SL 20 Index surpassing the 4,000 mark. CSE ChairmanVajira Kulatilaka, said at a CSE event on Monday that the CSE has planned strategies to grow the current market capitalization to US$ 50 billion.
"CSE has completed 30 years of operation in 2015. The exchange steps into an era of innovation. CSE had plans to create a vibrant exchange with strong equity alternatives, very derivatives and a stable debt market offering investors a range of options to diversify their portfolios."
CSE CEO,Rajeeva Bandaranaike said that they are ready to play an even greater role in boosting the country's capital market.
"Total branch turnover accounted for 21% of Turnover of Local Individuals which clearly showed that the decision to go rural has paid backm" he said.
He also said that they will host two back to back investor forums in London and Luxembourg in September. "In addition three large road shows will be conducted in Matara, Kandy and Jaffna this year." CSE was named as the Most Sustainable Growth Exchange in Asia 2014 by CFI, UK.
Courtesy: Daily News 03 June 2015

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