The Singapore Exchange (SGX) has reported earnings of $451.4 million for its FY2022 ended June, up 1% over the preceding year’s $445.4 million.
Revenue in the same period was up 4% y-o-y to $1,099 million — its highest level since it was listed more than two decades ago.
SGX’s adjusted earnings for FY2022 was $456.4 million, versus $446.9 million last year. This reporting line excludes certain one-off and non-cash items which SGX says is a better reflection of its operating performance.
The exchange plans to pay a final quarterly dividend of eight cents, bringing the full year payout to 32 cents — same as last year.
“Our record-high revenue was driven by higher derivatives volumes across equities, currencies and commodities, as our global customers increasingly used our multi-asset platform to navigate market uncertainties,” says Loh Boon Chye, CEO of the SGX Group.
“Our fixed income, currencies and commodities (FICC) business remains a key growth engine and is expected to deliver mid-teens percentage revenue growth in the medium term,” he adds.
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Part of the turnover came from newly acquired businesses such as that of MaxxTrader in January 2022. Others, such as BidFX, helped lift trading volume.
For the current FY2023, Loh says the exchange will build on the on-going momentum of these new businesses to further lift trading in commodity and FX futures.
“As portfolio management needs evolve, we are sharpening our equities product suite to stay at the forefront of global investing trends.
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“With our expanded global network and connectivity, we are well-positioned to capitalise on capital market opportunities when conditions are more conducive,” adds Loh.
SGX notes that with increasing risks in the global economy, portfolio risk management activity is expected to rise in tandem as well.
SGX is keeping its medium-term revenue growth expectation of a high single-digit percentage range.
SGX shares closed Aug 17 at $9.94, up 0.51%.
