- 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
The International Stock Exchange (TISE) has announced record turnover for the first half of 2022.
The International Stock Exchange Group Limited has released its latest Interim Report which shows that turnover for the Group increased 2.5% to a record £4.9 million for the six months ended 30 June 2022.
In the same period, there was a reduction in post-tax profit to £2.0 million resulting from planned investment into strategy execution.
Earnings per share declined to 72.5p for the first half of the year.
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.”
During the first six months of the year, there were 487 securities listed on TISE, 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.
"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."
In the first half of the year, TISE further enhanced its bond listing proposition through a detailed revision of the post-listing continuing obligations for its Qualified Investor Bond Market (QIBM), it launched its bespoke auction trading system, NOVA, and with more new Members from Ireland there was continued growth and internationalisation of the Membership base which facilitates listings on the market.
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.”
It has also been announced that Mr Whamond, who has served as a Non-Executive of the Company since 2017 and as Interim Chair of the Board since May 2022, has been appointed as the Group’s Chair on a permanent basis.
Mr Whamond has over 30 years’ experience in the banking and financial sector. He is an Executive Director of Fiera Capital (IOM) Limited (formerly Charlemagne Capital (IOM) Limited) and also a Director of a number of listed and non-listed investment companies.
A copy of the Interim Report for the half year ended 30 June 2022 is available here.