TMX Group earnings up after merger with Montreal Exchange
TMX 3-month chart
TMX Group Inc., which merged with Montreal Exchange Inc. in May, said Wednesday its earnings for the second quarter grew by 26 per cent.
TMX, which recently changed its name from TSX Group to reflect the addition of the Montreal market, said it made $49.2 million, or 65 cents a share, in the quarter. That was up from $39.1 million, or 57 cents a share, a year earlier.
The company's revenues were $130.1 million, up 22 per cent over the second quarter of 2007.
"We were pleased to report solid results for the second quarter of 2008 despite a tough market environment," Michael Ptasznik, chief financial officer of TMX Group, said in a release.
At the same time, TMX Group declared a dividend of 38 cents per common share payable Aug. 29 to shareholders of record at the close of business on Aug. 15.
TMX Group shares gained $1.59, or more than 4.4 per cent, on Wednesday to finish at $37.39.
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