Stock market operator NZX has reported a drop in earnings to $13.8 million in the nine months to September, a fall of 6% compared with the same period a year ago.
Despite a drop in listing income, revenue rose 16% to $36 million, led by the sale of market data and agricultural information such as its Farmers Weekly publication.
Costs rose by more, however, as NZX spent more on developing and building its clearing house settlement system and futures market.
The rate of expenditure growth is slowing, which the company says reflects a shift to generating strong income from its new projects.
NZX's profit fell 89% to $6.7 million, following the sale of its carbon business TZ1 Registry, and its stake in the Bond Exchange of South Africa in the previous period.