The NZX reported operating earnings down 8% for the six months ended June as a result of a $1.6million increase in Ralec litigation costs.
The $1.6million related to the protracted litigation with the sellers of the Clear Grain Exchange.
Operating earnings were $10.8million for the period, down from $11.7million in the previous corresponding period.
Last year, NZX's profit was boosted by $11.8million profit from the sale of an associate.
Without the help of any sale proceeds, the profit after tax slumped 80% to $3.6million from $17.9million in the pcp.
The net profit also included a charge on brand assets in NZX's agribusiness business and an adjustment for the provision for NZX Wealth Technologies. Excluding those items, and the gain on the sale of NZX's stake in Link Market Services in the previous period, net earnings of $4million were 35% down on the pcp.
A fully-imputed interim dividend of 3c per share was declared.
NZX chief executive Tim Bennett said he was pleased the Ralec trial and associated costs, which weighed on the result, were behind NZX.
''We continue to deliver against our strategic objectives to grow the business and the markets for the long-term.''
Highlights for the year included increased trading and listing revenue in NZX's markets business along with continued growth in the debt market. The equity and debt listing environment continued to be stronger than in the corresponding period last year, he said.
There was growth in the funds services business following the launch of 12 new Smartshares Exchange Traded Funds in 2014-15 and ''excellent progress'' by Wealth Technologies, leading to the signing of its first major new client in August.
The launch and subsequent take-up of NZ milk price futures and options was another highlight in the first half, Mr Bennett said. Also, post balance date, a key milestone of 50% equity market capitalisation to GDP was reached for the first time since the ratio was first reported by NZX in 2003.
Hurting the performance of NZX's agribusiness was a weak dairy sector.
NZX provided guidance of full-year operating earnings in the range of $22.5million to $26.5million.
Mr Bennett said the guidance was subject to market outcomes, particularly in respect to initial public offerings, secondary capital raising, trading and clearing volumes for equity, derivatives and grain trading volumes.
