August 15, 2012 / 11:17 PM / 7 years ago

Australia's ASX H2 profit falls 9.3 pct; 2013 off to slow start

SYDNEY, Aug 16(Reuters) - Australia’s ASX Ltd on Thursday reported a 9.3 percent fall in second-half profit, hurt by weak markets, and said equity and derivative market volumes were well below the previous year’s in the first six weeks of fiscal 2013.

ASX, operator of Asia’s fourth-largest bourse, posted a net profit of A$163.6 million ($171.9 million) compared with A$$180.3 million a year earlier, based on a Reuters calculation. That was lower than analysts’ forecasts of A$171.3 million, according to Thomson Reuters I/B/E/S.

Underlying net profit after tax dropped 8.6 percent to A$165.6 million, based on the calculation.

ASX is battling against greater competition as well as the wider downturn in global markets, which is delaying company listing plans and weighing on volumes. It also lost its more than two-decade-old monopoly of the Australian market to Chi-X last year.

“Both retail and institutional investors reduced their risk appetite and activity level,” said Chief Executive Elmer Funke Kupper in a statement. ($1 = 0.9520 Australian dollars) (Reporting by Jane Wardell; Editing by Chris Gallagher)

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