SGX reports Q3 FY2019 net profit of SGD100 million

Singapore Exchange (SGX) has reported a Q3 FY2019 net profit of SGD99.7 million (SGD100.5 million), against revenues of SGD228.8 million (SGD222.2 million). 

Operating profit was SGD118.2 million (SGD117.9 million), with earnings per share at 9.3 cents (9.4 cents). The Board of Directors has declared an interim dividend of 7.5 cents (5.0 cents) per share, payable on 13 May 2019.
 
Loh Boon Chye, Chief Executive Officer, SGX, says: “We achieved another record derivatives performance, registering daily average volume of more than one million contracts for the first time during the quarter. We saw increased activity and higher open interest amid strong institutional demand, as our clients continued to use our multi-asset platform to manage their portfolios across equities, currencies and commodities.
 
“Our securities business performed in line with global markets as investors adopted a cautious stance. Our REITs sector remained an outperformer with higher turnover, contributing 20 per cent of the overall securities daily average value in Q3 FY2019. To meet investors’ demand, we expanded our range of daily leveraged certificates (DLCs) to include more single-stock DLCs.

Our performance is on track, with FX starting to emerge as a promising growth pillar. Our derivatives business remains strong, as we are the only exchange that provides comprehensive access to Asian markets across asset classes. Our innovative derivatives products will open up opportunities to capture new revenue streams in the coming years. We also anticipate an improvement in our securities business. The recent halt in interest rate hikes will benefit equities markets, particularly our REIT sector.”

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