OMX Reports 3Q Net Profit Up 30 Percent

Stockholm-based OMX said net profit in the July-September period was 223 million kronor (euro24.2 million; US$34.6 million), up from 171 million kronor in the third quarter of 2006.

Sales increased 23 percent to 1 billion kronor (euro109 million; US$160 million), from 817 million kronor in the year-ago period.

OMX has been targeted by several takeover offers in recent months, the latest of which being a joint US$4.9 billion (euro3.47 billion) bid by Nasdaq Stock Market Inc. and Borse Dubai.

A Qatar investment group has also shown interest in OMX, buying just under 10 percent of the shares and requesting regulatory approval for increasing that stake.

OMX Chief Executive Magnus Bocker said the positive result in the third quarter shows that "the turbulence surrounding OMX has not materially affected the company's daily operations."

The company, which operates stock exchanges in the Nordic and Baltic countries, said trading revenue increased mainly because of higher equities and derivatives trading.