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SGX net profit rises 21% to record S$100.5m in Q3

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BOURSE operator the Singapore Exchange (SGX) has reported a third-quarter net profit of S$100.5 million, up 21 per cent from the same period a year earlier, reaching a new 10-year record high.

Revenue in the three months ended March 31 was S$222.2 million, up 10 per cent from the same quarter last year, the highest levels since SGX was listed in 2000.

Revenue from equities and fixed income rose 5 per cent to S$107.9 million.

Securities daily average traded value (SDAV) rose 17 per cent to S$1.45 billion while total traded value rose 15 per cent to S$89.9 billion.

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Traded value of equities climbed 13 per cent to S$83.7 billion.

An interim dividend of five Singapore cents per share was declared, unchanged from the same period last year.

Earnings per share was 9.4 Singapore cents, up 21 per cent from 7.8 Singapore cents in the same period last year.

Net asset value per share was 94.9 Singapore cents as at March 31.

CEO Loh Boon Chye said: "We actively engaged liquidity providers and focused on outreach to investors, which contributed to increased activity in the securities market.

"Our marketing efforts, together with longer trading hours enabled by our new derivatives trading and clearing platform, added to an increase in global participation across products and trading sessions."

He added: "Market activity is expected to improve as investors seek avenues to manage their portfolio risk. We will continue to build on our multi-asset offering and increase our servicing and marketing efforts across our domestic and international client base."

SGX shares shed three Singapore cents or 0.4 per cent to finish at S$7.56 on Friday before earnings were announced.

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