CORRECTED-UPDATE 3-Canada exchange operator TMX posts profit, shares climb

Wed Feb 6, 2013 2:50pm EST
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(Corrects second paragraph to show TMX has 10-year history as public company; fixes name of entity prior to Maple acquisition in 14th paragraph)

* Revenue jumps, helped by acquisitions

* Stock rallies as cost savings boost earnings

* Results hamstrung by global economic headwinds -CEO

By Alastair Sharp

TORONTO, Feb 6 (Reuters) - TMX Group Ltd, operator of the Toronto Stock Exchange, reported better-than-expected profit for the first full quarter since a group of Canadian financial institutions took control, even as sluggish trading and listing activity limited growth.

Shares rose as much as 4.2 percent to C$57.82, the highest level in the exchange operator's 10 years as a publicly traded company.

The takeover by the Maple consortium of Canadian banks, insurers and pension funds followed a failed offer from the London Stock Exchange Group Plc for Canada's flagship market operator.

TMX's fourth-quarter profit came in at C$32.8 million, or 61 Canadian cents a share, for the three months ended Dec. 31, the company said. Excluding one-time items related to the acquisition, TMX earned 95 Canadian cents a share.   Continued...