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Singapore Exchange reports 20 pct decline in net profit in Q4

Xinhua, July 27, 2016 Adjust font size:

Singapore Exchange (SGX) on Wednesday announced net profit of 76.8 million Singapore dollars (56.5 million U.S. dollars) for the fourth quarter ended June, down 20.1 percent from the previous year.

SGX reported revenue of 198 million Singapore dollars (146 million U.S. dollars) in the fourth quarter, which is a 8 percent decrease compared with the previous year.

For the full Financial Year 2016 (FY2016), it announced net profit of 349.0 million Singapore dollars (257 million U.S. dollars), unchanged from the previous year.

Revenue was 818.1 million Singapore dollars (601.5 million U.S. dollars), up 5 percent from the previous year. Earnings per share was unchanged at 32.6 cents per share. The Board of Directors has proposed a final dividend of 13.0 cents per share, bringing total dividend for the year to 28.0 cents per share, unchanged from a year earlier.

Derivatives revenue was up 10 percent to 325.3 million Singapore dollars (239.2 million U.S. dollars), accounting for 40 percent of total revenue. Equity and Commodities revenue grew 8 percent while collateral management, licence, membership and other revenue grew 17 percent, SGX said.

Looking ahead, Loh Boon Chye, Chief Executive Officer of SGX, said, "We are conscious that economic and political uncertainties, including the decision by Britain to leave the EU, the upcoming U.S. presidential election, and changes in benchmark interest rates, could result in market participants adopting a cautious approach. We will continue to invest to grow our business and to be more competitive." Endit