SGX's Q2 net profit up 16%

SINGAPORE Exchange posted a 16 per cent net profit increase in its second fiscal quarter on the back of strong derivatives growth.

Earnings attributable to shareholders rose to S$86.6 million, or 8.1 Singapore cents per share, for the quarter ended December. Net profit for the first half slipped 2 per cent to S$164.2 million, or 15.3 Singapore cents per share.

The market operator is declaring a dividend of four Singapore cents per share.

Income from securities slipped one per cent to S$51.7 million in the quarter. Income from derivatives, however, rose 46 per cent to S$76.4 million.

SGX sees continued choppiness for the markets ahead.

"The outlook for the global economy remains uncertain with continued volatility," SGX stated. "Against this backdrop, we expect the demand for Asian trading and clearing services to grow. We therefore remain committed to our long-term growth strategy."