| Imagery Source: Johannesburg Stock Exchange |
| Information Source: JSE SENS |
| "The JSE delivered a strong first-half performance, with net profit after tax up 13.2% to R557.8 million. Growth was driven by elevated equity market activity and consistent execution across our core business lines. |
| Capital Markets, Post-Trade and Information Services each delivered solid revenue gains, reinforcing the strength of our established businesses and the improved quality of earnings stemming from a more diversified revenue base. While newer segments remain in their build phase, they are aligned to long-term demand and progressing in line with expectations. |
| Our infrastructure modernisation programme is ahead of schedule, with key BDA milestones delivered. Backed by a strong balance sheet, an expanding product and data offering, and a disciplined investment approach, the JSE is well-positioned to advance its strategic agenda in the second half." |
| Leila Fourie, Group CEO |
| Overview of results |
| Net profit after tax (NPAT) increased by 13.2% to R557.8 million. Headline earnings per share (HEPS) increased by 13.4% year-on-year (YoY) to 687.0 cents. The Group continues to be cash-generative, with net cash generated from operations of R518.2 million (2024: R502.6 million), up by 3.1%. |
| The Group's operating income was up by 11.4% to R1.71 billion, primarily supported by equity market revenues in Capital Markets and Post-Trade Services. Most business segments reported growth in revenue for the period, with Capital Markets revenue up by 16% and Post-Trade Services up by 17% YoY, and Information Services up by 5%. JIS revenue declined by 11% as a result of lower interest rates and a margin income adjustment in the prior year. Total operating expenditure increased by 7.5% YoY to R1.09 billion, demonstrating a disciplined approach to cost management amid increased trade-related costs. 1.56% of the increase in OPEX relates to costs linked to higher trading activity. |
| Capital expenditure of R27 million (2024: R29 million) remains focused on protecting the core business, as well as growing new business lines. |
| The Group maintains a robust balance sheet and cash position of R2.5 billion as at 30 June 2025 (including bond investments of R448 million). Ring-fenced and non-distributable cash and bonds (regulatory capital and investor protection funds) amounted to R1.31 billion. |
| For the full document, click the link below |
| JSE Limited |
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