Deutsche Boerse plans additional cost savings to offset slump
FRANKFURT Feb 5 (Reuters) - Deutsche Boerse announced an additional cost saving programme to compensate for lower trading volumes on stock and derivative markets as it released preliminary earnings for 2012.
"The Executive Board of Deutsche Boerse AG, subject to the approval of the Supervisory Board, is planning to accelerate the measures to increase the operating efficiency in light of the changes in markets," Boerse said in a statement on Tuesday.
For that purpose the company will identify potential annual cost savings of 70 million euros ($94.91 million).
Last month, Reuters reported that Deutsche Boerse was mulling another round of cost cuts to offset a slump in trading volumes.
Deutsche Boerse said its adjusted preliminary earnings before interest and taxes for 2012 amounted to around 1 billion euros and the adjusted preliminary net income to around 660 million euros. ($1 = 0.7376 euros) (Reporting By Edward Taylor)
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