July 27, 2018 / 10:03 AM / 4 months ago

Singapore's SGX posts biggest net profit in a decade

SINGAPORE, July 27 (Reuters) - Singapore Exchange Ltd on Friday posted annual net profit of S$363 million ($266.3 million), slightly below analysts’ expectations, but still its biggest in a decade bolstered by record derivatives trading volumes and bond listings.

The net profit, up 7 percent from a year earlier, came against a revenue of S$845 million, which was the highest since 2000 and up 5 percent on the year.

Analysts’ average estimate for net income was S$372.32 million, according to Thomson Reuters I/B/E/S, and the estimate for revenue was $849.2 million.

Loh Boon Chye, chief executive officer of SGX, said: “FY2018 was a record milestone in our financial performance.

“All three core businesses registered higher revenues. Our securities daily average traded value (SDAV) hit a five-year high, with the number of bond listings and derivatives trading volumes reaching record highs.” ($1 = 1.3633 Singapore dollars) (Reporting by John Geddie; Editing by Gopakumar Warrier)

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