The revenue for the first half of this year for SIX Group’s financial information business, SIX Telekurs, is down 3% on the previous year’s figure for the same period. According to the vendor, the decline from CHF205.3 million in 2009 to CHF199.1 million this year was largely attributable to the negative effect of the euro and the trials and tribulations of the display business, which held back the more profitable corners of the business.
The vendor’s evaluated pricing business grew in line with expectations, according to SIX Telekurs, and is expected to be boosted further this year by the acquisition of niche pricing player CSV in April. The decision to buy a niche vendor in the complex pricing sector was largely motivated by a desire to boost its ability to react to market change and proactively meet clients’ requests for new models and it falls into SIX Telekurs’ strategic objective of bolstering its offering against a background of increasing market competition in the valuations space.
The SIX Group as a whole is being rather cautious about its overall outlook for the rest of the year and notes that while the stock exchanges and cards business are on course for more growth, net income will remain “roughly the same as last year”. This will likely be as a result of a tough market in the financial information business, outside of the evaluated pricing space.