Company News

Canada's TMX Group quarterly profit jumps on asset sales

Feb 12 (Reuters) - Canada’s biggest stock exchange operator, TMX Group Ltd, said on Monday its fourth-quarter profit nearly quadrupled, boosted by gains from the sale of some assets last year.

Net income attributable to shareholders rose to C$202.3 million ($160.8 million), or C$3.63 per share, for the quarter ended Dec. 31, from C$52.6 million, or 95 Canadian cents per share, a year earlier.

The net income included gains from TMX’s sale of Natural Gas Exchange Inc (NGX) and Shorcan Energy Brokers Inc to Intercontinental Exchange Inc in a deal in October.

The Toronto Stock Exchange owner sold the assets to fund the acquisition Trayport, a London-based energy trading software firm, from Intercontinental Exchange.

TMX reported adjusted earnings per share of C$1.22 in the fourth quarter compared with C$1.18 a year earlier, reflecting lower operating expenses before acquisition costs.

Revenue fell 2 percent to C$170.9 million. ($1 = 1.2585 Canadian dollars) (Reporting by Taenaz Shakir and Shubham Kalia in Bengaluru; Editing by Amrutha Gayathri)