Singapore Exchange reports 24% jump in Q1 net profit to $92.3 million

People pass stock index tickers at the Singapore Exchange (SGX) premises on Oct 17, 2013. A better performance from both the securities and derivatives businesses drove earnings up 24 per cent at the Singapore Exchange in the first quarter. -- P
People pass stock index tickers at the Singapore Exchange (SGX) premises on Oct 17, 2013. A better performance from both the securities and derivatives businesses drove earnings up 24 per cent at the Singapore Exchange in the first quarter. -- PHOTO: REUTERS

A better performance from both the securities and derivatives businesses drove earnings up 24 per cent at the Singapore Exchange in the first quarter.

Net profit came in at $92.3 million for the three months to Sept 30, up from $74.3 million a year ago, it announced on Oct 17.

Revenue rose 15 per cent to $184 million.

Turnover from the securities business rose 15 per cent to $69 million, as institutions traded a broader range of stocks and retail investors participated more in the market.

"The clearing revenue a year earlier was also lower due to block trades driven by merger and acquisition-related activities," the SGX added.

The average value of daily trading during the quarter was steady at $1.3 billion.

Derivatives turnover grew 16 per cent to $51.7 million on the back of a 36 per cent rise in volumes to 26.4 million contracts.

Higher trading volumes for China A50 futures, Nikkei 225 futures and options, and iron ore swaps led the way.

Earnings per share was 8.63 cents, from 6.96 cents a year earlier, while net asset value per share was 72.07 cents at Sept 30, from 83.11 cents at June 30.

An interim dividend of four cents per share, unchanged from a year ago.