The exchange for trading emissions and environmental products said revenues from core businesses were up 48% to £33.6m (2008: £22.7m).

Core business operating profit was £11.5m (2008: £6.3m).

Cash balances including short term investments amounted to £19.2m at 31st December 2009, compared with £12.4m in 2008, and there were no external borrowings.

Audited IFRS profit before tax was £2.2m (2008: loss of £2.5m).

European Climate Exchange (ECX) annual volume increased 82% to 5.1 billion tonnes.

ECX open interest finished the year at 5.4 million tonnes, more than 53% above the previous year and ECX membership increased to 102 members, despite high levels of consolidation throughout the markets.

Chicago Climate Futures Exchange (CCFE) average daily volume increased by 183% to 5,406 contracts in 2009 from 1,907 contracts in 2008.

Richard Sandor, Chairman, said: "Some political momentum is returning with China and India announcing post Copenhagen reduction targets in the last few days. Overall these results are exciting and we have maintained our position as the leading emissions trading exchange".

Neil Eckert, CEO,said: "We are delighted with these results when put in perspective with the economic and political backdrop. ECX had a wonderful year and with the continuing EU discussion of an anticipated 30% cut by 2020 and particularly the move to 100% auctioning in 2011, shows significant long term growth potential."