Why it matters: ASX is trying to get its CHESS replacement project back on track.
CHESS-related costs incurred a $173.8 million one-off charge.
ASX will pay a final dividend of $1.12 a share.
ASX chief executive Helen Lofthouse says the looming peak in interest rates and softening inflation should lure more traders back to the sharemarket, pushing back on concerns the outlook for the market operator’s revenue growth remains challenged.
ASX’s shares were more than 2 per cent lower on Thursday at $60.20 after analysts flagged concerns about its 12.3 per cent annual cost growth – driven by regulatory pressures linked to the failed CHESS replacement program – as revenue slipped 1.2 per cent due to softer equities trading and the dormant IPO market.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
