July 30, 2020 / 10:11 AM / 14 days ago

Singapore Exchange fourth quarter profit jumps 17% as trading volume climbs

SINGAPORE, July 30 (Reuters) - Singapore Exchange Ltd (SGX) reported a nearly 17% increase in its net profit for the quarter ending in June as the bourse benefited from an increase in trading volume.

SGX said on Thursday that profit for its fourth quarter advanced to S$121.2 million from a year ago, while revenue rose 12.2%. It posted record full-year revenue at S$1.05 billion, up 16% from a year ago, while full-year net profit rose 21%.

“Looking forward to FY2021, market activity could ease following heightened volumes in the second half of FY2020,” CEO Loh Boon Chye said in a statement. (Reporting by Anshuman Daga; Editing by Edmund Blair)

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