Stock exchange firm’s profits up

OMX, which owns and operates stock exchanges in Stockholm, Helsinki, Copenhagen and the Baltic countries, has posted a first quarter net profit of 319 million kronor for 2006.

The total is an increase of more than 67 percent compared to the same period in 2005, when profits reached 190 million kronor.

Turnover for the company, which also sells IT systems for bourses, increased to 903 million kronor.

In the year-ago period, group turnover equalled 742 million kronor.

Increased revenues are attributed to market development and trading volumes in Copenhagen, Helsinki and Stockholm, the company stated.

It also forecasts that income from the IT unit will remain at the same level during the second quarter of 2006.

The same will be true, according to the company, for the group’s total costs in the upcoming quarter.

TT/The Local