Record results at Euronext

16-11-2006

Record results at Euronext
Pan-European exchange Euronext has revealed an eight per cent increase in quarterly profits to €92.3 million (£63 million).

The world's first cross-border exchange today said its net profit in the nine months to September was up 62 per cent to €271 million (£184 million), while its revenue has risen 18 per cent to €820 million (£556 million).

Today's results arrive as rival exchange Deutsche Boerse revealed it has ruled itself out of the running for a possible takeover bid of its European counterpart, leaving the New York Stock Exchange in an unchallenged driving seat to seal the deal.

But regardless of impending takeovers, Euronext chief executive Jean Francois Theodore today insisted that the firm's expenses were stable and its income from financial investments and participations "increased strongly".

"The third quarter results are further evidence of the efficiency of the Euronext business model. This business model has enabled us to generate an all time record level of activity," he said.

Mr Theodore added: "On the costs side, our unique IT model has delivered synergies. Our industry is evolving constantly and rapidly and Euronext is ready to take advantage of the opportunities presented by the new challenges."

Paris-based Euronext was formed in 2000 following the merger of bourses in France, the Netherlands and Belgium, with Portugal's exchange joining three years later.


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