MANILA--Philippine Stock Exchange Inc.'s (PSE.PH) 2013 net profit rose 35% year over year, the stock market operator said Thursday.
The result underscores the resilience of Philippine companies despite international volatility following the U.S. Federal Reserve reducing bond buying stimulus, it added.
"The country's sound economic fundamentals and the heightened interest of investors to participate in the growth of our market have provided the impetus for increased trading activity," PSE president Hans B. Sicat said in a statement.
Net profit last year was 844.8 million pesos ($18.9 million) compared with 625.3 million pesos thanks to higher income from stock listings and trading fees.
Revenue rose 34% to 1.53 billion pesos. Ten companies listed on the exchange last year--eight through initial public offerings.
The stock market's total turnover increased 44% to 2.55 trillion pesos. Daily average turnover rose 45%.
Write to Cris Larano at cris.larano@dowjones.com
Access Investor Kit for Philippine Stock Exchange, Inc.
By Cris Larano
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