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S'pore Exchange reports 9 pct rise in net profit in FY 2015

Xinhua, July 29, 2015 Adjust font size:

Singapore Exchange (SGX) on Wednesday announced net profit of 348.6 million Singapore dollars (255.2 million U.S. dollars), up 9 percent from the previous year, as surging income from derivatives offset weak volumes in the local stock market.

SGX reported revenue of 778.9 million Singapore dollars (570.2 million U.S. dollars) in FY2015, which is a 13 percent increase compared with the previous year.

Expenses increased 20 percent to 376.7 million Singapore dollars (275.8 million U.S. dollars) mainly because of increased staff, technology and processing and royalties associated with the growth in derivatives traded volumes.

Securities revenue declined 8 percent to 209.3 million Singapore dollars (153.2 million U.S. dollars), while derivatives revenue jumped 42 percent to 295.7 million Singapore dollars (216. 5 million U.S. dollars), said SGX.

Commenting on the results of FY2015, SGX's CEO Loh Boon Chye said Singapore Exchange has delivered a good set of results for the year.

"We are conscious of the challenges ahead and the need to address new listings activity and work with our stakeholders towards our common goal of a more liquid and higher-quality securities market," said Loh, a former investment banker who took over the helm on July 14 with the urgent task of boosting trading values and attracting new listings. Endi