SINGAPORE: Singapore Exchange (SGX) has reported 1Q FY2020 net profit of S$114.2 million with revenues of S$247.6 million. EBITDA came in at S$156.4 million and earnings per share was 10.7 cents.
The Board of Directors has declared an interim dividend of 7.5 cents per share, payable on 11 November 2019.
Loh Boon Chye, Chief Executive Officer of SGX, said, “We had a strong start to FY2020, with robust performance across all key financial metrics and the highest quarterly net profit in more than 10 years. This is our first set of results following our re-organisation to capitalise on our strengths as an international multi-asset exchange. The growth across our three business segments is largely due to our broad-based efforts in expanding our global client base and ensuring we meet our clients’ risk management and capital efficiency needs. Since we embarked on our strategic priorities in FY2018, a quarter of our clients have increased the number of asset classes that they trade with SGX. Over the same period, we saw overnight trading grow from 10% of our total derivatives volumes, to 18% this quarter.”
“Looking ahead, we expect to operate against a backdrop of prolonged low interest rates and continued investor focus on Asia. Emerging Asian markets will continue to internationalise, and OTC and listed markets will increasingly converge. Our multi-asset strategy allows us to ride on the tailwinds created by these mid to long-term trends. We recently announced the establishment of a S$1.5 billion multicurrency debt issuance programme, which will provide us with the flexibility to capitalise on investment opportunities when they arise and to allow us to actively manage our balance sheet,” added Mr Loh.
Edited by Kazim Rizvi