July 24, 2019 / 5:22 PM / 4 months ago

Deutsche Boerse posts 27% rise in second-quarter net profit; confirms 2019 targets

A general view shows the German stock exchange (Deutsche Boerse) in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - German exchange operator Deutsche Boerse (DB1Gn.DE) on Wednesday said it posted a 27% rise in second-quarter net profit and confirmed its targets for the full year.

Earnings were lifted by higher net interest income from its banking business, while equity market volatility helped generate trading revenue, the company said.

“We are confident that we will achieve our goals for 2019,” said Gregor Pottmeyer, chief financial officer.

Consolidated net profit was 267 million euros ($297.44 million), up from 210 million euros a year ago, the company said.

Deutsche Boerse recorded earnings per share of 1.46 euros, lower than the 1.49 euro consensus forecast. Net revenue of 724.8 million euros, up 6% from a year earlier, was roughly in line with the 726 million euros expected by analysts.

Theodor Weimer, who took over as chief executive at the start of 2018, has been seeking to open a new chapter after Deutsche Boerse became entangled in an insider trading scandal in 2017 and a planned merger with its London counterpart was scrapped.

Deutsche Boerse has been in talks to buy FXall, a foreign exchange electronic trading platform owned by Refinitiv, for about $3.5 billion, but it provided no update to the status of the discussions.

Reporting by Tom Sims; Editing by Edward Taylor

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below