SGX's Q4 profit falls 12% on weak securities markets

THERE was no element of surprise when Singapore Exchange announced yesterday that net profit for the final quarter slipped again, for the third straight quarter.

Net earnings for the fourth quarter ended June 30 slipped 12 per cent to S$77.42 million while revenue fell 15 per cent to S$172.6 million.

The poorer performance capped a financial year marked by crimped securities market activity amid record low volatility, curbed speculator appetite after last year's penny stock crash and investors exiting Asia into developed markets.