Dow Jones Newswires: Hong Kong Exchanges & Clearing net profit falls 9.6%

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Hong Kong Exchanges & Clearing’s said its third-quarter net profit fell 9.6% on year, due to lower revenue from trading and listing fees.

Net profit for the quarter ended September was 2.21 billion Hong Kong dollars (US$282.1 million) compared with HK$2.44 billion a year earlier, the stock market operator 388, +0.24%  said Wednesday.

The net profit was below a consensus estimate of HK$2.43 billion in a FactSet poll.

Revenue and other income also declined to HK$3.99 billion from HK$4.10 billion a year earlier, mainly dragged by lower trading fees and tariffs as well as a drop in listing fees.

The company said it was disappointed not to proceed with a firm offer for the London Stock Exchange LSE, -1.25%  .

For the first nine months of the year, the company’s reported a 2% increase in revenue and other income to HK$12.57 billion, but net profit declined 1% to HK$7.41 billion.