JOHANNESBURG, Aug 4 – The Johannesburg Stock Exchange (JSE), reported a strong financial performance for the first half of its financial year, driven by increased equity market activity, diversified revenue growth and disciplined cost management.
The exchange recorded a 16.9% year-on-year increase in net profit after tax (NPAT) to R652 million (approximately $40 Million), while headline earnings per share (HEPS) rose 18.8% to 816.2 cents.
Operating income increased 14.6% to R2.0 billion, supported by broad-based growth across the JSE’s core business segments, including higher revenues from equity trading, capital markets and post-trade services. Non-trading income also expanded by 8.1% to R659 million, reflecting the exchange’s continued efforts to diversify its earnings base.
The Group maintained a strong balance sheet and cash position during the period. As of the end of June 2026, the JSE held R1.9 billion in cash, excluding a R679 million bond investment, while net cash generated from operations increased 20.6% year on year to R625 million.
The exchange said its financial strength provides flexibility to fund strategic investments while creating long-term value for shareholders, clients and the broader capital markets ecosystem.
Commenting on her first financial results since assuming the role of JSE Group Chief Executive Officer, Valdene Reddy said the exchange remains focused on strengthening the quality and resilience of its earnings.
According to Reddy, “Our strategic focus remains firmly on the quality, resilience and diversification of earnings through the cycles. We continue to broaden the Group’s revenue base, expand our data and services offering, maintain disciplined cost management and invest selectively in capabilities that support sustainable long-term growth.”
During the reporting period, the JSE maintained positive momentum in its primary market business, attracting new equity listings and facilitating R8.4 billion in additional capital raising. The exchange also recorded growth in bond and structured product listings.
To enhance its fixed-income offering, the JSE introduced spread trading on Bond Exchange Traded Products, while expanding its colocation infrastructure to meet increasing client demand and support a growing share of equity market trading activity.
Looking ahead, the exchange reaffirmed its long-term strategy under its FORGE 2031 programme, which is designed to strengthen the JSE’s competitiveness, expand its services and reinforce its position within African and global capital markets.
Reddy said, “Our vision is to build and grow a globally relevant, resilient exchange of the future. Structured around the pillars of Transform and Grow, the FORGE 2031 strategy builds on the JSE’s proud legacy while providing a bold blueprint and strategic roadmap for the future.”
She added that the strategy reflects the exchange’s commitment to innovation while continuing to uphold “trust, transparency and market integrity,” positioning the JSE to play an active role in shaping the future of capital markets in South Africa, across Africa and within the global financial system.
The exchange said its combination of trusted market infrastructure, a strong balance sheet and a clear strategic roadmap leaves it well positioned to pursue sustainable long-term growth while enhancing its relevance and competitiveness in global financial markets.
