The Johannesburg Stock Exchange (JSE) reported a 13.2% rise in net profit after tax to R557.8 million. Headline earnings per share increased 13.4% year-on-year to 687.0 cents. Operating income rose 11.4%, reaching R1.71 billion, supported by equity market revenues.
Capital Markets grew by 16%, meanwhile Post-Trade Services increased by 17%, and Information Services rose by 5%. The JSE remains cash-generative, with R518.2 million net cash from operations.
INFRASTRUCTURE MODERNISATION ACCELERATES
The upgrade of the JSE’s Broker Dealer Accounting (BDA) system is progressing faster than expected. The pilot phase has been completed, and full-scale rollout preparations are underway. Additionally, the exchange extended its Nasdaq partnership and launched a new blueprint with Amazon Web Services.
Furthermore, the initiative aims to modernise infrastructure, integrate AI, and improve operational efficiency. The JSE maintained 99.94% uptime across all markets during the first half (H1) of 2025.
PRODUCT EXPANSION AND CLIENT GROWTH
In H1 2025, the JSE launched Bond Repos and expanded its Colo 2.0 cloud solution. Colo 2.0 mitigates outage risks and ensures continuity for clients. In addition, the JSE Trade Explorer subscription, launched in 2023, offers advanced exchange analytics primarily for trading firms, brokers, and investors and not for general public access.
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
Additionally, CEO Leila Fourie stated that the performance of the JSE reflects its strategy for diversifying earnings. The exchange’s strong balance sheet includes R2.5 billion in cash and bond investments. Regulatory capital and investor protection funds total R1.31 billion, ring-fenced and non-distributable.
As a result, JSE continues to drive transformation, innovation, and sustainable growth while prioritising long-term demand and operational excellence in its strategic agenda.
WHAT DOES JSE H1 2025 MEAN FOR SOUTH AFRICA’S INVESTMENT OUTLOOK?
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