ibusinesslines.com June 24, 2017

SGX's Q3 profit falls 6.8% to S$83.1 million amid derivatives slump

20 April 2017, 06:15 | Kelvin Horton

In terms of the group's Q3 FY2017 net profit, SGX yielded a figure of $83.1 million, falling -5.8 percent on a quarter-over-quarter basis from $88.3 million in Q2 FY2017.

Excluding a one-off loss of S$4 million from the disposal of its investment in the Bombay Stock Exchange, net profit would have been S$87 million - still 2 per cent lower than that a year ago.

Operating revenue fell 1.5% to S$202.7 million in 3Q17, from S$205.8 million in the corresponding period past year.

Singapore Exchange (SGX), the country's paramount exchange operator, encompassing the previous three-month period at the exchange - the latest metrics incurred a slight decline relative to the year prior, largely impacted by volatility, per a group filing.

Expenses fell 3% to S$99.7 million, mainly due to lower volume related processing and royalties and professional fees. Revenue from its market data and connectivity business jumped 13 per cent to S$24.4 million. Continued positive momentum in the equities market following the US Presidential Election last November contributed to the higher level of trading activity, with increased participation from both retail and institutional customers. SGX is maintaining its quarterly dividend payout of five Singapore cents per share.

Loh said that although sentiment had improved, positive outcomes on US economic policies will be important to sustain trading activities.

Other News

Trending Now

Stock Showing Surging Activity: Cobalt International Energy, Inc. (CIE)
The return on assets ratio shows how well management is employing the company's total assets to make a profit. Cobalt International Energy (NYSE:CIE) last released its quarterly earnings results on Tuesday, March 14th.

Arkansas courts block resumption of executions
Two executions are set for Thursday, followed by another double execution Monday and a single execution April 27. The state described the inmates' challenge as a last-minute delay that would "manipulate the judicial process".

Pence affirms US commitment to reining in North Korea
Pence's Japanese hosts will likely be cautious about any U.S. military action that could trigger a broader regional conflict. Tensions have escalated over North Korean moves to accelerate its weapons development.

USS Carl Vinson Deployment Near North Korea Extended
Speaking in Saudi Arabia, Mr Mattis said: "We're doing exactly what we said we're going to do". McMaster also said it was a "prudent" decision to send the ships to deter the North.

Police can now shoot terrorist drivers
But there is an important distinction to make. 'There are plans in extremis that ministers can deploy military on to the streets. In addition, the number of specialist and trained firearms officers has increased in a major "uplift" across the UK.

Sabres clean house by firing GM Murray and coach Bylsma
Pegula will address the media on Friday at 10 a.m. and says the team has begun the process to fill these positions immediately. After missing the playoffs again, the Buffalo Sabres are making major changes in their organization.

Danny Drinkwater targets Champions League again with Leicester
We were living in fear all night of what they might achieve. "They pushed us all the way". But from a purely footballing point of view, we can compete.