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NEWS RELEASE 26 August 2021 NZX reports market growth and diversification in H1 2021 • Operating earnings¹ of $ 16.9m , down 3.5 % NZX Net profit after tax ( NPAT ) of $ 7.6m , down 16.0 % • Interim dividend of 3.0 cents per share , fully imputed • Capital raised $ 7.3b , down 10.6 % Total value traded $ 27.1b , down 2.8 % from COVID record Strong growth for Smartshares ' FUM up 44.3 % and NZX Wealth Technologies ' FUA up 151.1 % FY2021 operating earnings guidance range remains at $ 32.0m to $ 35.5m NZX today announced operating earnings of $ 16.9 million for the six months ended 30 June 2021 , down 3.5 % on HY2020 , with market activity remaining near the record levels seen during the prior period . Chief Executive , Mark Peterson , said “ NZX is continuing to make good progress in building a diversified financial markets infrastructure and services business " . " Our achievements and results for the half - year 2021 reflect this ambition , with strength across all our business activities " . Alongside strong growth in NZX's funds business , Smartshares , and the further expansion of NZX Wealth Technologies ( NZXWT ) , there were increases in the number of listed securities , the amount of primary capital raised and the level of trading activity . Through the first half of 2021 , Mr Peterson said NZX had performed well across these key measures . " This is particularly encouraging when you consider this performance against the extraordinary levels of activity in the prior period – driven by the economic uncertainty created by the outbreak of COVID in the first quarter of 2020 . " The COVID pandemic materially stimulated and accelerated activity through 2020. " Mr Peterson said : “ From the emerging signs of underlying growth two years ago , we are now seeing ongoing benefits from the changes we made under our strategy - our businesses are operating at a structurally higher level of activity " . FINANCIAL PERFORMANCE Group revenues were up 10.6 % to $ 42.5 million for the six months . Operating margin at 39.9 % was lower , due to investment in growth activity alongside increased spend in people and technology costs . Capital expenditure continues to be focused on investing in IT capacity , resilience and security , growth opportunities within Smartshares and NZX Wealth Technologies and , in 2021 , creating a fitting home for New Zealand's Capital Markets in Auckland . Net profit after tax for the period ( NPAT ) declined 16 % to $ 7.6 million , with the NZX Board declaring a fully - imputed interim dividend of 3.0 cents per share to be paid on 24 September 2021. NZX is maintaining its full year 2021 operating earnings guidance² to be in the range of $ 32.0 million to $ 35.5 million . STRENGTHENING OUR MARKETS Mr Peterson said the COVID crisis demonstrated the clear value of being listed on NZX – providing ready access to capital . " We believe this is a factor , along with NZX's origination activity , in the growth we are seeing in new listings . " 1 Operating earnings is not a defined performance measure in NZ IFRS . NZX Group's definition of operating earnings may not be comparable with similarly titled performance measures and disclosures by other entities . 2 2 The guidance is subject to market outcomes , particularly with respect to market capitalisation , total capital raised , secondary market value and derivatives volumes traded , funds under management and administration growth and technology costs . Additionally , NZX notes the global health environment remains volatile and this guidance assumes no material adverse events , significant one - off expenses , major accounting adjustments , other unforeseeable circumstances , or future acquisitions or divestments .