JSE revenue and profit drop in slow trade

Thin trading volumes have hit JSE Ltd, with the company reporting a double-digit drop in interim earnings as low volatility and declining investor sentiment hurt revenue.

“The country is plagued by low growth, [credit] ratings downgrades and a loss of business confidence. It’s a tricky environment to make long-term capital bets and we see the results of that,” JSE CEO Nicky Newton-King said on Thursday.

For the six months to June, the JSE’s operational earnings slipped 20% to R453m.