SGX net profit fell 10% in 3Q 2011

Net profit fell to $67 million but excluding the ASX-SGX transaction cost of $12.0 million, net profit came in at $77.3 million, up 4 per cent, said OCBC Investment Research.

According to SGX, revenue rose 10% to $168.8 million as major businesses - particularly derivatives and depository - grew. The derivatives market achieved all-time high daily average volume of 315,650 contracts on increased volatility especially in March.

SGX was the world’s third-biggest capital-raising centre in the quarter, raising a total of $7.5 billion from 112 new listings including Hutchison Port Holdings.

Mr Magnus Bocker, SGX CEO, said “Despite global uncertainties and tough market conditions, our performance was solid and strong in the quarter. We continue to expand our products and services including adding OTC clearing of Foreign Exchange Forwards and more metal futures. Our Reach initiative achieved its first milestone when we opened the SGX Data Centre on 11 April. We look forward to offering the world’s fastest trading engine and international liquidity hubs in the coming months.”

Directors have declared an interim dividend of 4.0 cents per share for the third quarter of FY2011.

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