Singapore Exchange First-Quarter Net Profit Rises as Market Activity Picks Up

By Gaurav Raghuvanshi Features Dow Jones Newswires

Singapore Exchange Ltd. (S68.SG) reported a 9.2% increase in fiscal first-quarter net profit, as market activity returned to more normal levels.

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Net profit for the July-September period was 90.7 million Singapore dollars (US$66.6 million), compared with S$83.1 million last year, Singapore Exchange said in a regulatory filing Wednesday.

Operating revenue for the quarter rose 7.1% to S$204.5 million, the exchange operator said.

"We expect momentum in market activity to continue and return to higher levels of past years," Singapore Exchange said.

The opening of a new office in Chicago will help to grow the customer base in North America, SGX said, adding that it is seeking opportunities to collaborate with other exchanges to expand.

The average daily traded value of securities rose 18% to S$1.16 billion (US$851.3 million) in the quarter, it said.

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Revenue from securities trading was 9% higher at S$51.2 million, while listing income grew 6% to S$13 million.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

October 25, 2017 06:02 ET (10:02 GMT)