TMX Group Ltd. (TSX:X) ended a year of major change with a $32.8-million profit in the fourth quarter, a big improvement from the previous quarter.

The Toronto-based company’s net income amounted to 61 cents per share for the three months ended Dec. 31, with $181.1 million of revenue. That compared with $4.2 million of net profit or 53 cents per share in the third quarter.

Fourth-quarter revenue was slightly ahead of estimates compiled by Thomson Reuters but net income was short of the $38.6 million, or 73 cents per share that had been expected.

Year-to-year comparisons are difficult to make because of a change in ownership at TMX Group, which is now controlled by members of the Maple Group — some of Canada’s largest banks, pension funds and other financial services companies.

The restructuring included TMX Group’s acquisition of two business units that had been jointly owned by several of the Maple Group members — the Alpha trading system and CDS Inc., which is the Canadian securities industry’s clearinghouse.

“We ended the year a stronger and more internationally competitive organization,” TMX president and CEO Thomas Kloet said in the earnings announcement.

“This significant activity was achieved against a backdrop of continued economic uncertainty, which impacted our operating and financial results for the fourth quarter and the year.”

Kloet noted that other stock markets around the world have also been challenged but said “our businesses continued to compete successfully.”

“As economic conditions improve and market activity resumes, we are confident in the opportunity for growth across our diversified, multi-asset class portfolio of businesses,” Kloet said.

The company said it will pay a dividend of 40 cents per common share on March 8, to shareholders of record as of Feb. 22, unchanged from the previous quarter.

On an adjusted basis, TMX Group reported 95 cents per share of earnings after excluding costs related to some acquisitions and to its restructuring last year. By that measure, the company beat analyst estimates.

For the full 2012 financial year, TMX Group is reporting $294.5 million in revenue and $15.3 million in net profit attributable to its shareholders, or 73 cents per share before adjustments.

The company owns the Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange and a number of specialized markets and other securities businesses.