JSE posts 13% profit growth in H1 despite global market volatility
The JSE recorded a 13.2% profit increase in the first half of 2025, fuelled by strong performance in the equity market.
The Johannesburg Stock Exchange (JSE) posted a 13.2% increase in net profit after tax, reaching R557.8 million. Headline earnings per share rose by 13.4% year-on-year to 687.0 cents.
The JSE boosted its operating income by 11.4%, climbing to R1.71 billion, largely driven by equity market revenues.
Capital Markets grew by 16%, Post-Trade Services by 17%, and Information Services by 5%. The JSE continues to generate strong cash flow, recording R518.2 million in net cash from operations.
INFRASTRUCTURE MODERNISATION ACCELERATES
The Johannesburg Stock Exchange (JSE) is ahead of schedule in upgrading its Broker Dealer Accounting (BDA) system, having completed the pilot phase and now preparing for full-scale rollout. The exchange also extended its partnership with Nasdaq and introduced a new blueprint in collaboration with Amazon Web Services.
This initiative aims to modernise the JSE’s infrastructure, integrate AI technologies, and enhance operational efficiency. During the first half of 2025, the JSE maintained 99.94% uptime across all its markets.
PRODUCT EXPANSION AND CLIENT GROWTH
In the first half of 2025, the JSE launched Bond Repos and expanded its Colo 2.0 cloud solution, which helps reduce outage risks and ensures service continuity for clients. The JSE also continued offering its Trade Explorer subscription, introduced in 2023, which provides advanced exchange analytics tailored for trading firms, brokers, and investors—not for public use.
Furthermore, these developments align with the JSE’s strategy to diversify revenue and enhance client-centricity. Capital expenditure decreased from R29 million in H1 2024 to R27 million in H1 2025, reflecting a focus on optimising investments to support core and new business lines.
RESILIENCE THROUGH MARKET CYCLES
CEO Leila Fourie said the JSE’s performance highlights its strategy to diversify earnings. The exchange maintains a strong balance sheet, holding R2.5 billion in cash and bond investments. It has also set aside R1.31 billion in regulatory capital and investor protection funds, which are ring-fenced and non-distributable.
She added that the JSE remains focused on transformation, innovation, and sustainable growth, while prioritising long-term market demand and operational excellence in its strategic direction.