Singapore Exchange reported a 24.6% rise in full-year net profit on Thursday, as broad-based growth across all operating segments reflected the strength of its multi-asset strategy.
“Growth was broad-based, with our cash equities business leading the way and our foreign exchange and commodities pillars reaching new volume highs,” said Loh Boon Chye, Chief Executive Officer of SGX Group.
Singapore‘s equity market has been buoyed through the year by the Monetary Authority of Singapore‘s equity market development programme aimed at reviving listings and liquidity.
A broader rotation of global capital toward Asian safe-haven assets amid dollar volatility has also helped, with the Straits Times Index hitting repeated record highs during the year.
Full-year net revenue from the equities-cash segment rose 28.1% and accounted for more than a third of the group’s net revenues, which rose 13.9% to an all-time high of S$1,478.3 million ($1.15 billion).
The company proposes a final quarterly dividend of 11.5 Singapore cents per share, higher than 10.5 SG cents apiece declared last year, and a one-off additional dividend of 12.5 Singapore cents per share.
The city-state’s bourse operator posted full-year adjusted net profit of S$759.5 million ($592.62 million), compared with S$609.5 million reported a year ago.
Reuters
