SGX Q3 net profit rises 38% on higher revenue from all three businesses

BOURSE operator SGX on Friday posted a 38 per cent rise in net profit to S$137.5 million for its third quarter ended March 31, from S$99.7 million a year ago.

This was mainly due to revenue increases across all three of its businesses: equities; fixed income, currencies and commodities; and data, connectivity and indices, it said in a regulatory filing.

Earnings per share stood at 12.8 Singapore cents for the quarter, up from 9.3 cents a year ago.

Revenue for Q3 rose 29 per cent to S$295.8 million, from S$228.8 million in the year-ago period.

An interim cash dividend of 7.5 Singapore cents per share has been declared for the quarter, the same as a year ago. The dividend will be paid on May 13.

SGX chief executive Loh Boon Chye said trading activity outside of Asian trading hours by the bourse's US and European clients had grown to 20 per cent of total derivatives volumes.

"Amid the Covid-19 pandemic, our priority is to keep SGX's markets relevant, resilient and fully accessible round-the-clock, to serve the heightened demand from market participants for risk management solutions and investment opportunities across our asset classes," he added.

Mr Loh also said that the bourse operator would be adopting half-yearly financial reporting from July 1. Dividends will continue to be paid on a quarterly basis.

SGX shares ended at S$10.16 on Thursday, down S$0.23 or 2.2 per cent.