Company that acquired Irish Stock Exchange grows revenue 1.8% in second quarter
Euronext says it has achieved €7.5m to date in cost synergies following its purchase of the Irish Stock Exchange
Euronext owns exchanges in Ireland, Belgium, France, the Netherlands, Portugal and the UK, and this year it acquired Norwegian stock market operator Oslo Bors. Photograph: Reuters
Euronext, the company that acquired the Irish Stock Exchange, in 2019 grew its revenue 1.8 per cent to €159 million in the second quarter, it said. Its profit for the period fell 4.4 per cent to €53.4 million.
It said it had achieved €7.5 million to date in cost synergies following its purchase of the Irish Stock Exchange – now known as Euronext Dublin – which it completed in March 2018.
Euronext chief executive Stéphane Boujnah said its margins had improved “thanks to continued cost discipline and optimisation of Euronext Dublin cost structure”.
It also owns exchanges in Belgium, France, the Netherlands, Portugal and the UK, and this year it acquired Norwegian stock market operator Oslo Bors.
The company’s operating profit before exceptional items arrived at €89.2 million for the quarter, up 8.8 per cent.
Revenue from stock listings was up 8.6 per cent to €29.7 million, while cash trading revenue fell 5.9 per cent to €50.7 million “in a low volumes environment”.