SGX reports fiscal year 2017 net profit of S$340 million, down 2% YoY

Singapore Exchange (SGX) today reported FY2017 net profit of S$339.7 million (S$349.0 million), against revenues of S$800.8 million (S$818.1 million).

Excluding a one-off loss of S$4.0 million from the disposal of its investment in the Bombay Stock Exchange and one-off acquisition costs of S$3.7 million for the Baltic Exchange, underlying net profit in FY2017 would have been S$347.4 million.

Here are the highlights:

  • Revenue: S$801 million, down 2% from a year earlier
  • Operating profit: S$402 million, down 2%
  • Net profit: S$340 million, down 3%
  • Earnings per share: 31.7 cents, down 3%
  • Proposed final dividend of 13 cents and total dividend of 28 cents, unchanged

The Board of Directors has proposed a final dividend of 13 cents per share, payable on 6 October 2017. With this, the total dividend for the year amounts to 28 cents (28 cents) per share, which represents an 88% (86%) payout of the FY2017 net profit.

Loh Boon Chye, Chief Executive Officer of SGX, said:

We achieved creditable results in a year of relatively low volatility in global markets. Our diversified multi-asset revenue base enables us to sustain consistent financial performance through different market environments. Looking ahead, there are signs of improving market sentiment. As we grow our business, we will focus on building a stronger multi-asset exchange across geographies, and invest strategically for our long-term competitiveness.

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