Arab Today, arab today sgx net profit down 5 in financial year 2014
Last Updated : GMT 01:21:23
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Arab Today, arab today

SGX net profit down 5% in financial year 2014

Arab Today, arab today

Arab Today, arab today SGX net profit down 5% in financial year 2014

SGX net profit down
Singapore - XINHUA

The net profit of Singapore Exchange (SGX) declined by 5 percent to 320 million Singapore dollars (256 million U.S. dollars) on a year-on-year basis in the financial year (FY) 2014, mainly due to a plunge from the securities business, SGX said at a news briefing on Thursday.
Total revenue of SGX reached 686.9 million Singapore dollars, a 4-percent-decline on year.
On a quarter-to-quarter basis, the revenue was at 173 million Singapore dollars in the fourth quarter of FY 2014, down 15 percent from the previous quarter.
Securities revenue decreased 18 percent to 227 million Singapore dollars amid the growth in all other businesses.
Magnus Bocker, Chief Executive Officer (CEO) of the SGX, said during the press briefing that the drop was mainly dragged by a record low volatility, outflow of funds from Asia to U.S. and Europe and the decline in short-term speculative trading in low- price stocks.
Derivatives revenue recorded a 3-percent rise to 208.7 million Singapore dollars in FY 2014, accounting for 30 percent of total revenue. Among them, China A50 futures, India Nifty futures and Iron Ore products all achieved record volumes, with China A50 saw a 45-percent growth in FY 2014.
A total of 34 new listings in the year raised 4.8 billion Singapore dollars, down from the 8.1 billion Singapore dollars with 30 listings a year earlier.
501 new bond listings raising 184.8 billion Singapore dollars, compared to 424 listings raising 195.9 billion Singapore dollars a year earlier.
Looking ahead, SGX expects the securities market to recover and sales and distribution continue to expand.
"We are confident that our securities market will recover despite a tough year. We remain committed to our strategy to grow all our businesses." Bocker said.

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Arab Today, arab today sgx net profit down 5 in financial year 2014 Arab Today, arab today sgx net profit down 5 in financial year 2014

 



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