RSE and LCD 2004 H1 financial results

21.07.2004 RIG

The total sales of Riga Stock Exchange and Latvian Central Depository in H1 2004 was LVL 663 thousand, up 28% from the same period last year. The shareholders’ equity stood at LVL 1.351 million at the end of the period. The consolidated net profit for six months of 2004 totalled to LVL 0.27 million. The results are consolidated and non-audited.

The increasing trading activity at the Riga Stock Exchange; the increase of the value of securities; listing of a new issuer – SAF Tehnika on the RSE; listing of new investment funds and introduction of fund trading; the increase in the number of State Funded Pension system participants were the key elements dictating the growth of performance indicators in both companies. On the other hand, the accomplished consolidation of the stock exchange and depository into a single group providing full range of services to the clients allowed to cut on costs, to offer new and more efficient services to the clients, and, what is essential, to offer new services to the customers at notably lower costs, starting already with September.

“We are satisfied with our performance during the first half of the year, though we are fully aware that most of the costs are planned in the second half of the year, when migration to the new trading system has to be finalised: this will bring certain adjustments to the group financial results”, says Guntars Kokorevičs, the Riga Stock Exchange President.

“Introduction of a single Baltic List in September, with the purpose to facilitate the access to the Baltic securities for investors, together with implementation of SAXESS trading platform, are the top priorities for the Riga Stock Exchange this year. This will also create a uniform environment for trading Nordic and Baltic securities, built of seven marketplaces – Sweden, Denmark, Iceland, Norway, Finland, Latvia and Estonia – using one and the same trading platform, and very soon to be joined by Lithuania. The task of Latvian Central Depository is to set up an integrated clearing and settlement system and to implement it in Latvia and Estonia,” Guntars Kokorevičs adds.


H1 2004 financial results of Riga Stock Exchange and Latvian Central Depository parent company OMHEX are available at http://www.omhex.com  

Additional information:
Krista Grīntāle
Corporate Communications Director
Riga Stock Exchange/Latvian Central Depository
Phone + 371 7212431