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PSE earnings down by over 3%

THE Philippine Stock Exchange, Inc. (PSE) reported a 3.1% decline in net income to parent firm equity holders at P659.81 million last year, but said the pandemic “did not significantly impact the consolidated financial statements.”

Even though trading was suspended and the trading floor was closed on March 17 and 18 last year, off-trading was enabled. Trading resumed on March 19 last year.

“The exchange was approved by the Inter-Agency Task Force on Emerging Infectious Diseases to resume operations on the condition that the trading floor is closed, and the exchange operate on a skeletal workforce. The exchange reopened the trading floor in June 2020,” the PSE said on Monday.

“Moreover, the group implemented measures to address the risks brought by the COVID-19 pandemic,” the local bourse added.

Total revenues inched up by nearly two percent to P1.31 billion from P1.29 billion.

The PSE’s operating income posted a 15% growth to P653.26 million from P565.94 million in 2019. Cost and expenses of the exchange declined by nearly 9% to P661.11 million from P725 million the previous year.

PSE shares at the market saw a 1.91% increase on Monday to close at P143.90 apiece from P141.20. — Keren Concepcion G. Valmonte

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