Singapore Exchange’s HY profit rises on derivatives business strength By Reuters

0
143
Singapore Exchange’s HY profit rises on derivatives business strength By Reuters


© Reuters. A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during “circuit breaker” measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su/File Photo

(Reuters) -Singapore Exchange (SGX) posted a 6.2% rise in its half-yearly profit on Thursday, driven by strong performance from its currency and commodity derivatives business.

Higher volume for currency and commodity derivatives helped offset a decline in market turnover in the equity unit as uncertainty in the global interest rate outlook and a slowing Chinese economy weighed on market sentiments.

“The year ahead could see muted global economic growth and geopolitical concerns that may affect market sentiment and risk appetite,” CEO Loh Boon Chye said.

The bourse operator’s adjusted net profit attributable was S$251.4 million ($187.61 million) for the six months ended Dec. 31, compared with S$236.8 million a year earlier.

SGX said its fixed income, currencies and commodities business revenue rose 28.1% to S$151.9 million in the first half, accounting for 25.6% of its total revenue.

It also proposed an interim quarterly dividend of 8.5 Singapore cents per share, higher than the 8.0 Singapore cents declared a year earlier.

($1 = 1.3400 Singapore dollars)



Source link