ASX Limited reported continued profit growth for H1 2017, up 3% to $219 million. Earnings per share was posted at $1.13 per share, which is 2.9% higher than a year ago.
The exchange operator declared a fully franked dividend of $1.02 per share, which pencils out to a 90% pay out ratio.
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ASX also announced a 2.8% increase in operating revenue to $386.6 million, which is a 10.4 million increase from the previous reporting period.
Solid growth in Derivatives, OTC products and the sharp increase in ETF interest has underpinned the company’s forward guidance.
However, we see a potential “double top” pattern on the daily charts dating back to the August highs of $52.40 and would look for a pull back in the share price.
