The consolidated net after tax profits of HELEX in 9M 2008 amounted to euro 50.2 m vs. euro 66m in 9M 2007, reduced by 24%. The consolidated turnover of the Group was reduced by 27% to euro 85.4m vs. euro 117.5m in 9M 2007.
This reduction is due mainly to the reduction in the total volume of trades in the cash market of Athens Exchange, as well as to the drop in share prices. In particular, the average daily value of transactions in 9M 2008 was euro 352m vs. euro 461m in the corresponding period last year. Revenue from trading in the stock market amounted to euro 18.6m, reduced by 26% compared to 9M 2007 (euro 25.2m). Revenue from clearing and settlement in the stock market amounted to euro 31.8m, reduced by 25% compared to the corresponding period last year (euro 42.2m). Revenue from listed companies (which includes listed company subscriptions and revenue from rights issues and new listings) amounted to euro 7.8m vs. euro 24.4m in 9M 2007, posting a 68% reduction.
Activity in the derivatives market (trading and clearing) was up, posting a large increase (average daily number of contracts 42.7 thousand in 9M 2008 vs. 33.6 thousand in the corresponding period last year), and as a result the corresponding revenue increased by 16% (euro 8.4m vs. euro 7.3m).
Moreover, in Q3 2008, HELEX reported euro 3,7m as non-repeating, non-operating revenue, profit from asset sales (sale of the building at 1 Pesmazoglou St.). The total operating expenses of the Group amounted to euro 19.9m vs. euro 20m in the corresponding period last year, posting a 1% reduction.
Thus, the operating profit (EBIT) of the Group in 9M 2008 was euro 62.5m compared to euro 86.9m in the corresponding period last year, reduced by 28%. HELEX?s financial statements are posted on the Company's website (www.helex.gr).