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HKEx sees profit climb 1% to HK$5.09 bln in 2011

Mar. 1, 2012 (China Knowledge) - Hong Kong Exchanges and Clearing Ltd or HKEx<0388>, the world's leading exchange operator by market value, has posted HK$5.09 billion-net profit for 2011, slightly up 1% year on year from HK$5.04 billion.

Despite the market turmoil, the profits for last year is largely in line with the average forecast of HK$5.12 billion made by 18 analysts at Thomson Reuters. Net margin fell from 66.6% in 2010 to 64.8% in 2011.

A final dividend of HK$2.09 per share was declared, keeping the firm's dividend payout ratio at 90%.

In 2011, the average daily stock market turnover, a key determinant of exchange revenue, inched up 1% to HK$69.7 billion.

Shares of HKEx are up 17.2% so far this year, in line with the rise of 17.6% on the benchmark Hang Seng Index.

Total fundraising via initial public offerings launched by companies on the Hong Kong Stock Exchange amounted to HK$260 billion last year, making the bourse the world's largest IPO center for third consecutive year.

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