Headlines

• Record turnover of £6.4 million – up 22.4% year on year
• Profit increased 28.4% year on year to a new high of £3.0 million
• Earnings per share increased to 107.0p; total of £7.0 million returned to shareholders in H1 2024
• 444 new listings contributed to overall public market growth of 5.6% year on year
• Delivery of private markets service to first client, with pipeline of further business

The International Stock Exchange (TISE) has reported record turnover, profit and earnings per share for the first half of 2024.

The International Stock Exchange Group Limited (the Group) has released its latest Interim Report which shows revenues up 22.4% year on year to a new high of £6.4 million, post-tax profit increased 28.4% year on year to £3.0 million, and earnings per share increased to 107.0p during the six month period ended 30 June 2024.

Earlier this year, the Group paid a special dividend of £2.00 per share and an ordinary dividend of 45.0p per share, which represented a return of approximately £7.0 million surplus cash to shareholders.

Anderson Whamond, Chair of the Group, said: “I am pleased to report record turnover, profit and earnings per share for the first half of 2024, reflecting the Group’s strengths as a leading European bond market as well as the improved macroeconomic conditions. The Group remains highly cash generative, supporting the payment of two special dividends during the past four years alongside twice-yearly ordinary dividends. Transformed from a local stock and bond market, today TISE is an established operator of public markets with an enlarged portfolio of financial markets and securities services for both public and private companies that positions the Group well for long-term growth.”

There were 444 newly listed securities on TISE during the first half of 2024, which represented an 18.4% increase year on year. This contributed to the total number of listed securities on TISE’s Official List to 4,371 at 30 June 2024, which is a 5.6% increase year on year and the highest total since the Exchange opened for business in 1998.

Across TISE’s leading European professional bond market, the Qualified Investor Bond Market (QIBM), there were 436 newly listed debt securities during the opening six months of 2024, which was ahead of the 369 listed during the equivalent period in 2023. TISE maintained its market leader position in products like private equity debt securities and high yield bonds, while continuing to grow its status as a listing venue for securitisations.

Within its equity market, TISE has consolidated its position as the second largest venue for listed UK Real Estate Investment Trusts (REITs). With four new UK REITs listed on TISE during the first half of 2024, double the number listed during the equivalent period in 2023, the total number of UK REITs listed on TISE reached 45 at 30 June 2024.

"we are in an excellent position to make the most of the opportunities available to us across both public and private markets.”

During the period, TISE continued to deliver its private markets service to the first client company, Blue Diamond Limited, as well as developing a pipeline of other prospective clients. The number of private companies in the UK that have more than 100 employees has grown by 3,096 over the last decade to nearly 19,150, while the number of listed companies has reduced by 271 during the same period. TISE Private Markets gives unlisted companies a more efficient way to trade their shares by providing access to a set of integrated electronic auction trading, settlement and registry management solutions.

Cees Vermaas, CEO of the Group, said: “The progress we have made in executing our strategy has been demonstrated by the sustained growth we have achieved through changing market conditions. We continue to deliver strong financial and operational performance both during the subdued market conditions of recent years and during the first half of 2024, with the return of a brighter economic picture. Our investment into an increasingly scalable and diversified business model means that we are in an excellent position to make the most of the opportunities available to us across both public and private markets.”

A copy of the Group’s Interim Report for the six months ended 30 June 2024 is available here.