October 25, 2017 / 10:03 AM / 10 months ago

Singapore Exchange Q1 net profit rises 9 pct, flags robust outlook

SINGAPORE, Oct 25 (Reuters) - Singapore Exchange Ltd (SGX) posted a 9 percent increase in July-September net profit, boosted by broad-based growth in its businesses, with trading in foreign exchange futures contracts rising to a record.

SGX, which announced a pact with Nasdaq Inc this month to woo fast-growing Asian tech firms, has been taking many steps to boost its appeal as a listing destination.

“We are starting the financial year on a firm footing, with improved performance and healthy participation from customers across all business segments,” Chief Executive Loh Boon Chye said in a statement on Wednesday.

The exchange posted a first-quarter net profit of S$90.7 million ($66.5 million) compared with S$83.1 million reported a year ago. Revenue edged up 7 percent to S$204.5 million.

SGX saw record trading activity in its key foreign exchange futures contracts.

“Looking ahead, we expect the momentum in market activity to continue and return to higher levels of past years,” Loh said. ($1 = 1.3631 Singapore dollars) (Reporting by Anshuman Daga; Editing by Muralikumar Anantharaman)

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