SINGAPORE: Singapore Exchange (SGX) reported FY2019 net profit of S$391.1 million up 8%, its highest net profit in 11 years. Revenues were also the highest since listing at S$909.8 million.
Operating profit increased to S$461.0 million from S$424.9 million same period last year, with earnings per share at 36.5 cents against 33.9 cents same period last year. The Board of Directors has proposed a final dividend of 7.5 cents (15 cents) per share, payable on 18 October 2019. This brings the total dividend for the year to 30 cents (30 cents) per share.
Loh Boon Chye, Chief Executive Officer of SGX, said, “We continued the strong momentum from previous quarters and closed FY2019 with another record performance, reflecting the combined strengths of our multi-asset businesses. We set all-time records in our derivatives volumes and open interest, driven by strong global institutional demand for Asian risk management and investment solutions. The second half of the year also saw an improvement in our securities business as trading activity picked up.”
Looking ahead, Mr Loh added, “The macro trends we anticipated, such as Asia being at the forefront of economic growth, the internationalisation of Asian markets as well as the increasing convergence of OTC and listed markets, continue to support our business growth. From FY2020, we have reorganised into four business and client units – Fixed Income, Currencies and Commodities; Equities; Data, Connectivity and Indices; and Global Sales and Origination. This will sharpen our focus on building scale, enabling us to not only capture the opportunities across multiple asset classes but also serve our clients’ needs more holistically.”
Edited by Kiran Khan