Singapore Exchange Half-Year Profit Jumps on Strength in Equity Segments

Reuters
02-06

Feb 6 (Reuters) - Singapore Exchange posted a 27.3% rise in its half-yearly profit on Thursday, driven by strong performance across all its business segments.

Cash equities and equity derivatives led the broad-based performance, followed by currencies and commodities, Chief Executive Officer Loh Boon Chye said.

Cash equities' net revenue increased 22.3% to S$192.6 million ($142.90 million) in the first half, while that of derivatives equities jumped 21.6% to S$177.4 million.

The bourse operator also declared an interim dividend of 9 Singapore cents per share, higher than the 8.5 Singapore cents announced a year ago.

While the city-state hosts around $4 trillion worth of assets under management owing to low taxes, political stability, and strategic location as a gateway to Southeast Asia, the bourse operator has been struggling to attract listings from high-growth companies.

Singapore Exchange posted an adjusted net profit of S$320.1 million for the six months ended Dec. 31, compared with S$251.4 million a year earlier.

($1 = 1.3478 Singapore dollars)

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