Added results details and CEO comments in paragraphs 2-6
February 1st (Reuters) –Singapore Exchange (SGX) SGXL.SI reported a 6.2% rise in first-half profit on Thursday, driven by strong performance in its currency and commodity derivatives businesses.
Trading volumes in currency and commodity derivatives increased, offsetting lower trading volumes in the equity sector, as uncertainty in the global interest rate outlook and a slowdown in the Chinese economy weighed on market sentiment.
“Slower global economic growth and geopolitical concerns are likely to impact market sentiment and risk appetite over the next year,” Chief Executive Officer Lo Boon Che said.
The stock exchange operator’s imputed adjusted net profit for the six months to Dec 31 was S$251.4 million ($187.61 million), compared with S$236.8 million a year earlier.
SGX said its Fixed Income, Currencies and Commodities business revenue for the first half rose 28.1% to S$151.9 million, accounting for 25.6% of total revenue.
It also proposed an interim quarterly dividend of 8.5 Singapore cents per share, higher than the 8.0 Singapore cents declared a year earlier.
(1 dollar = 1.3400 Singapore dollar)
Report by John Biju, Himanshi Akhand and Aaditya Govind Rao from Bangalore.Edited by: Krishna Chandra Elli