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Profit attributable to shareholders increased to $5,093 million for the year ended 31 December 2011 against $5,037 million for 2010 mainly due to higher turnover-related income and other income. However, this was offset by an increase in operating expenses and a drop in net investment income due to the downturn of the markets caused by worries over the Eurozone sovereign debt crisis and economic uncertainty in the second half of the year.
Income affected by market turnover rose by $260 million to $5,284 million in 2011 mainly due to the higher trading fees and trading tariff of the Derivatives Market driven by the record high number of contracts traded, and an increase in clearing and settlement fees.
The drop in net investment income was primarily attributable to a drop in fair value gains of investments of the Corporate Funds and Margin Funds reflecting market movements but was partly offset by an increase in net interest income.
Total operating expenses rose during the year mainly due to higher staff costs and IT and computer maintenance expenses.
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