Bullish market lifts PSE Q1 profit by 50%

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MANILA, Philippines – The Philippine Stock Exchange Inc. (PSE) nearly doubled it first-quarter net income on stronger trading activity and higher service revenues amid a bullish local market earlier this year.

In a statement, the local bourse operator said first-quarter net income climbed 49.9 percent to P381.71 from P254.67 million a year ago.

Operating revenues grew 18.5 percent to P746.81 million from P645.49 million previously, driven mainly by higher trading-related and service fees.

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