5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

PSE sees 19.3% increase in first-quarter net income

by
May 19, 2024
in Stock
0
PSE sees 19.3% increase in first-quarter net income
BW FILE PHOTO

THE PHILIPPINE Stock Exchange, Inc. (PSE) recorded a 19.3% increase in its first-quarter net income to P242.38 million, driven by financial asset gains and higher interest income.

“The higher earnings result was mainly due to the 207% improvement in other income to P120.17 million, on account of higher interest income and mark-to-market gain on financial assets at fair value through profit or loss,” PSE said in a statement.

First-quarter revenue dropped by 7.6% to P353.34 million from P382.29 million as trading-related revenue composed of service, transaction, and block sale fees declined by 24% to P102.43 million.

Listing-related fees also fell by 21.6% to P114.72 million while total expenses rose by 1.3% to P174.99 million.

During the quarter, the market operator was able to raise P4.89 billion worth of capital from two follow-on offerings and one private placement.

Daily average value turnover was down by 1.1% year-to-date to P6.03 billion at the end of the quarter.

“The PSE index (PSEi) broke past the 7,000 mark intraday several times in the last quarter but failed to hold on to this key level due to persistent concerns on inflation, depreciation of the peso and geopolitical tensions abroad,” PSE President and Chief Executive Officer Ramon S. Monzon said.

“Despite the uncertainties these headwinds continue to bring to the market, PSE will carry out liquidity-boosting initiatives in line with its strategy of growing its pool of listed companies and investors and introducing more products and services,” he added.

The 2024 initial public offering (IPOs) calendar started with the listing of OcenaGold (Philippines), Inc. on May 13. It will be followed by the stock market debut of Citicore Renewable Energy Corp. in June. The PSE is eyeing to have six IPOs this year.

On Friday, the PSEi went down by 0.14% or 9.51 points to finish at 6,618.69 while the broader all shares index fell by 0.01% or 0.37% to end at 3,524.15.

PSE shares were last traded on May 17 at P199 apiece. — Revin Mikhael D. Ochave

Previous Post

From uniforms to upcycling

Next Post

Lynk & Co wants to break the ‘made in China’ stereotype

Next Post
Lynk & Co wants to break the ‘made in China’ stereotype

Lynk & Co wants to break the ‘made in China’ stereotype

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Hived raises $42m to roll out electric delivery fleet across southern England

    Hived raises $42m to roll out electric delivery fleet across southern England

    July 5, 2025
    Tesla sees UK sales rebound in June as EV market accelerates

    Tesla sees UK sales rebound in June as EV market accelerates

    July 5, 2025
    ‘Invest in Women’ fund criticised for slow rollout as MPs call for bolder action

    ‘Invest in Women’ fund criticised for slow rollout as MPs call for bolder action

    July 5, 2025
    “A turning point for education”: James Caan launches bold education reform plan in House of Lords

    “A turning point for education”: James Caan launches bold education reform plan in House of Lords

    July 5, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.