SGX posts 8.8 per cent decline in net profit due to weaker treasury income, higher operating expenses

BOURSE operator Singapore Exchange (SGX) S68 posted an 8.8 per cent decline in net profit to S$218.7 million for the first half of its financial year 2022 ended Dec 31, 2021, down from S$239.8 million it reported a year ago.

This was due to a decline in treasury income, which fell by S$5 million to S$21 million for the first half of this year. Still, the decline was smaller than in the second half of the company's financial year 2021 ended June 30, 2021, when treasury income fell by S$22 million to S$26 million.

In an earnings call on Friday (Feb 4), SGX chief financial officer Ng Yao Loong said: "We do expect treasury income pick-up to be modest at least for the next few months, and it will take another few months before you see a material uptick in the treasury income."