ISE turns loss into €6.3m profit

THE Irish Stock Exchange swung back into the black last year reporting pre-tax profits of €6.3 million following losses of €15.4m in the previous year.

Accounts for 2009 show there was a loss on investments held for trading of €22.1m due to the “significant falls in equity markets”.

It said that following a review the board agreed to follow a new investment mandate effective from the start of 2009 which has a more diversified portfolio approach with a combination of global equities and sovereign/highly rated corporate bonds being the focus of the higher investment yield fund and a deposit and bond focus for the more conservative risk-averse fund.