VP's Securities Share Achieves New Heights

Vrdipapircentralen (VP) made a profit of DKK 127.7 million in 2008 with a new record of DKK 18.6 million securities transactions. VP is changing its name to VP SECURITIES and is relocating to new premises in the heart of Copenhagen.

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Vrdipapircentralen (VP) made a profit of DKK 127.7 million in 2008 with a new record of DKK 18.6 million securities transactions. VP is changing its name to VP SECURITIES and is relocating to new premises in the heart of Copenhagen.

Trading securities in Denmark attained new heights in 2008 after several years of significant progress. Securities turnover reached DKK 30,702 billion in 2008, which was an increase of 7.7% compared to 2007. VP achieved a pretax profit of DKK 127.7 million compared to DKK 172.5 million the previous year.

The reduced profit in 2008 is entirely a result of VPs action on 1 October 2007 to significantly lower the prices of securities trading and the issuing of securities. These lower prices reduced last years net turnover by DKK 63.1 million.

The total number of securities transactions at VP reached all of DKK 18.6 million in 2008, equivalent to a 13% rise compared to the previous years record. Thus, the number of securities transactions has virtually trebled in five years. This trend has been largely driven by a significant rise in share transactions.

VPs profit of DKK 127.7 million before tax is satisfactory, says Sven E. Lystbk, director and VP chairman of the board. Its encouraging that in 2008, the securities market set another record despite the credit crunch. VPs share register administration facilities saw a major influx of customers as well as healthy growth in turnover.

The new name is contemporary and international, and emphasises the fact that VPs activities involve securities, says Johannes Luef, VPs managing director. The new name will be ac-companied by a new logo, which will be introduced with the publication of VPs 2008 financial statements.

L.D.

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