The consolidated net after tax profits of HELEX in H1 2008 amounted to euro 35.7m vs. euro 40.2m in H1 2007, reduced by 11%. The consolidated turnover of the Group was reduced by 12% to euro 63.2m vs. euro 72.1m in H1 2007.
This reduction is due mainly to the overall reduction in transaction activity in the cash market of Athens Exchange. In particular, the average daily value of transactions in H1 2008 was euro 414m vs. to euro 440m in the corresponding period last year. Revenue from trading in the stock market amounted to euro 14m, reduced by 13% compared to H1 2007 (euro 16.2m). Revenue from clearing and settlement in the stock market amounted to euro 24.3m, reduced by 9% compared to the corresponding period last year (euro 26.5m). Revenue from listed companies (which includes listed company subscriptions and revenue from rights issues and new listings) amounted to euro 5.4m vs. euro 10.7m in H1 2007, posting a 50% reduction.
Activity in the derivatives market (trading and clearing) was up, posting a large increase (average daily number of contracts 46.6 thousand in H1 2008 vs. 34 thousand in the corresponding period last year), and as a result the corresponding revenue increased by 20% (euro 5.7m vs. euro 4.7m).
Total operating expenses amounted to euro 13.6m vs. 13.1m in the corresponding period last year, a 4% increase. The operating expenses in H1 2008 include non-repeating expenses of euro 619 thousand which were not present in the corresponding period last year. Excluding the abovementioned amounts, operating expenses would have posted a 1% reduction.
Thus, the operating profit (EBIT) of the Group in H1 2008 was euro 44.7m compared to euro 52.6m in the corresponding period last year, reduced by 15%.
HELEX's financial statements are posted on the Company's website (www.helex.gr).