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JOHANNESBURG, MARCH 13 – South Africa’s JSE Ltd
, which operates the Johannesburg Stock Exchange, posted
a 29 percent rise in full-year earnings, despite volatile
markets and slow economic growth.
The JSE said headline earnings per share totaled 562.4 cents
in the year to end December, up from 436.1 cents a year earlier.
The JSE had alerted the market that its headline earnings
per share likely rose as much as 34 percent.
Earnings per share, which take into account one-off items,
fell 10 percent to 400.8 cents, reflecting a 223.3 million rand
impairment for software under development.
Operating revenue was up 9 percent to 1.4 billion rand
($185.14 million). The full-year dividend came to 250 cents,
versus 210 cents a year earlier.
Johannesburg’s All-share index, the widest measure
of South African stock performance, ended 2011 largely flat as
concerns over the euro zone dampened appetite for risky assets
such as equities.
Momentum has picked up and the All-Share is up nearly 7
percent so far this year after hitting a series of life-time
highs in February. The JSE shares are up nearly 12 percent by
comparison.
The bourse is looking north to increase the number of
listings in Africa’s biggest securities exchange. Many companies
are, however, shunning the JSE in favour of London, which not
only carries more status but attracts more investors.
The JSE is also casting its nets wider by joining forces
with six other emerging market bourses to cross-list equity
indexes derivatives by June 2012.
($1 = 7.5619 South African rand)
(Reporting by Helen Nyambura-Mwaura, editing by Ed Stoddard)
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