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SGX Reports First-Quarter Net Profit Of $92 Million
Corporate Digest | 21 October 2013
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This article is written by Geoff Howie from the Singapore Exchange (SGX). Geoff is widely known for providing insightful investment analysis and this article is republished with permission from SGX My Gateway.

Singapore Exchange’s (SGX) First Quarter Results Rundown
Revenue from the securities business grew 15 percent to $69.0 million and accounted for 38 percent of total revenue. The average value of daily trading was steady at $1.3 billion. Securities clearing revenue rose 17 percent to $54.4 million due to institutions trading a broader range of stocks and increased retail participation. The clearing revenue a year earlier was also lower due to block trades driven by merger and acquisition-related activities.

Derivatives revenue grew 16 percent to $51.7 million and contributed 28 percent of total revenue. Total volumes grew 36 percent to 26.4 million contracts led by increased volumes for China A50 futures, Nikkei 225 futures and options, and iron ore swaps.

A total 11 listings in the quarter raised $2.0 billion compared with 10 IPOs raising $3.6 billion a year earlier. New listings included Kris Energy, OUE Hospitality Trust, Rex International and SPH REIT. Total equity funds of $4.6 billion were raised, compared with $4.0 billion a year earlier. A total of $38.8 billion was raised from new bond listings, compared with $52.5 billion a year earlier. New bond issues included a US$1.5 billion Indonesian sovereign bond and a US$1 billion bond from Baidu.

-Revenue: $184 million, up 15 percent from a year earlier
-Operating profit: $107 million, up 21 percent
-Net profit: $92 million, up 24 percent
-Earnings per share: 8.6 cents, up 24 percent
-Interim dividend per share: 4.0 cents
-Singapore Exchange (SGX) today reported first-quarter net profit of $92.3 million, up 24 percent from a year earlier. With growth across all businesses, first quarter revenue was up 15 percent to $184.1 million.

CEO’s Comment
Magnus Bocker, CEO of SGX, said, “We posted a 24 percent increase in first-quarter net profit to $92 million following a 15 percent growth in revenue to $184 million as institutional and retail participation in the securities market broadened and the global market share of our key derivatives contracts grew.

We will continue to execute our strategy amid uncertain market conditions. In the next few quarters, we will introduce products such as foreign exchange futures and new ASEAN equity index futures. The growth of our distribution capabilities is on track; we have received an automated trading services licence in Hong Kong. We remain committed to strengthening our regulatory and risk management capabilities including preparing ourselves for new European and US regulatory standards.”

For the full SGX Financial Statements announcement, please visit www.sgx.com. The first quarter results of SGX can be found here.

Singapore Exchange  8.220 -- --   
Business: [FY18 Turnover] Equities & fixed income (48.2%), derivatives (40.2%), mkt data & connectivity (11.6%).

Insight: Jan-19, 1H19 operating revenue increased 5.7% to $... Read More


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