TMX posts first full-quarter profit since Maple deal

(Reuters) - TMX Group Ltd , operator of the Toronto Stock Exchange, reported a profit for the first full quarter since a consortium of financial institutions took control in July, but said earnings were constrained by slow trading and listing activity.

Fourth-quarter profit was C$32.8 million, or 61 Canadian cents per share. Excluding items, TMX Group earned 95 Canadian cents per share.

The company said comparisons with year-earlier quarter were not meaningful because of the reorganization of the group, which included the takeover of Alpha Trading and Canadian Depository for Securities Limited (CDS).

TMX Group Inc, predecessor of TMX Group Ltd, reported a loss of C$10.2 million, or C$54.77 per share, in the fourth quarter of 2011 before the Maple Group consortium won control in July.

The Maple Group, comprising 13 major financial institutions, was formed as an all-Canadian alternative to a takeover deal between TMX and the London Stock Exchange.

Revenue was C$181.1 million, with Alpha and CDS contributing C$27.1 million.

TMX also operates the TSX Venture Exchange for small capitalization stocks, the Montreal Exchange for derivatives, and other options and energy markets.

(Reporting by Shounak Dasgupta in Bangalore and Alastair Sharp in Toronto; Editing by Saumyadeb Chakrabarty)

Source: http://news.yahoo.com/tmx-reports-profit-first-full-quarter-maple-deal-114036726--sector.html

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