Climate Exchange, the emissions exchange operator has reported a first-half year profit. Trading volumes doubled in the period despite an outlook of moderate growth in the second half. Climate Exchange owns and operates carbon trading market places in the U.S., Europe and Asia, including the European Climate Exchange (ECX).
Pre-tax profit WAS £1.5million, compared with a loss of £300,000 for the same period last year. Trading volumes in the half almost equally volumes for the whole of 2008. The number of contracts traded as 2.7 million.
"Whilst we are delighted with the growth achieved in the first half of 2009, political and regulatory uncertainty may moderate our rates of growth during the second half of the financial year and we have observed lower volumes in August" the company commented in its release.
The company has a market capitalisation of £400 million.
