TISE announces "strong results for H1 2022"

Tuesday 13 September 2022

The International Stock Exchange has announced a record turnover for the first half of this year, while confirming investment in its "strategy execution".

TISE released its Interim Report last week, which shows that turnover for the Group increased 2.5% to the record £4.9 million for the six months ended 30 June 2022.

TISE also reported the reduction in post-tax profit to £2.0 million which it said was "resulting from planned investment into strategy execution". 

During the first six months of the year, it said there were 487 securities listed, which represented a 3.9% decrease on the record set a year previously. However, there was a 11.2% rise year on year in the total number of securities on TISE’s Official List, which reached 3,815 at 30 June 2022. 

In the first half of the year, TISE said it further enhanced its bond listing proposition through "a detailed revision of the post-listing continuing obligations for its Qualified Investor Bond Market (QIBM)". It also launched its bespoke auction trading system, NOVA, and said that with more new Members from Ireland there was "continued growth and internationalisation of the Membership base which facilitates listings on the market". 

Pictured: Anderson Whamond.

Those headlines at a glance: 

• Record turnover of £4.9 million 
• Profit after tax of £2.0 million down 14.5% year on year resulting from planned investment into strategy execution 
• Earnings per share of 72.5p 
• 487 securities listed in H1 2022 contributing to overall market growth of 11.2% year on year 
• Refined Qualified Investor Bond Market (QIBM) offering and launched NOVA trading system 
• Short term outlook for bond markets remains tempered; strategy in place to capitalise when favourable market conditions return 
• Appointment of Non-Executive Director Anderson Whamond as Chair 

Anderson Whamond, Chair of the Group, said: “Whilst delivering record turnover for the first six months of the year, profit and basic earnings per share were impacted by an increase in expenditure to support strategic investment to diversify and scale-up our business. The management team has made good progress on delivering the strategy and I am confident that the business is well positioned to sustain future growth.” 

Pictured: Cees Vermaas.

Cees Vermaas, CEO of the Group, said: “With a strong start to the year for new listings curtailed by adverse macro-economic conditions, it is pleasing to have increased the depth and breadth of the market while delivering record turnover for the first half of the year. We have an increasingly diversified and scalable business model which puts us in an excellent position to make the most of the opportunities which will emerge, not least when more buoyant market conditions return.” 

Pictured top: Cees Vermaas.