.jpg)
Singapore Exchange Limited (SGX) today announced its first quarter financial results for FY2007.
In the first quarter ended 30 September 2006, SGX Group has achieved a net profit of $47.7 million. This was an increase of 5.1% when compared to $45.3 million for 1Q FY2006. The year-on-year improvement was driven by the continued growth in the derivatives market, in which turnover volume saw a 31.5% increase year-on-year, and stable revenue.
For the first quarter, the total operating revenue was $103.9 million, an increase of 15.1% compared to $90.3 million last year. Futures clearing revenue rose by 62.1% year-on-year to $23.9 million. The significant increase can be attributed to the strong growth in Asian Equity Derivatives, in particular the Nikkei 225 Stock Index futures. Stable revenue increased by 24.3% to $28.5 million mainly due to higher listing related income.
Securities market revenue dipped slightly by 1.8% to $48.6 million from $49.5 million. There was a 4.3% drop in securities trading value year-on-year to $58.1 billion in 1Q FY2007.
The total funds raised via IPO amounted to $1.1 billion in 1Q FY2007, compared to $2.2 billion in 1Q FY2006. However, given our emphasis on attracting larger issuers, the average market capitalisation and average amount raised from our six new listings in 1Q FY2007 was 41% higher at $416.2 million and 18.9% higher at $183.2 million respectively, compared to the 14 IPOs in 1Q FY2006.
The overall year-on-year improvement in our revenue for 1Q FY2007 was partially offset by the 27.8% increase in operating expenses. These grew from $36.2 million to $46.2 million due to higher expenses arising from our data centre outsourcing, provision for variable bonus and the performance share plan.
Singapore Exchange Limited pg 2 of 2 Company Registration No. 199904940D www.sgx.com
|
S$ Million |
1Q FY2007 |
1Q FY2006 |
Change |
|
Operating Revenue |
103.9 |
90.3 |
15.1% |
|
Operating Expenses |
(46.2) |
(36.2) |
27.8% |
|
Operating Profit |
57.7 |
54.1 |
6.6% |
|
Other Gains / (Losses) |
3.0 |
2.7 |
12.0% |
|
Profit Before Tax |
60.7 |
56.8 |
6.9% |
|
Share of Results of Joint Ventures |
(0.7) |
- |
NM |
|
Tax |
(12.3) (11.5) 7.2% |
||
|
Profit Attributable to Equity Holders |
47.7 |
45.3 |
5.1% |
|
Basic earnings per share (cents) |
4.54 |
4.35 |
0.19 |
|
Interim base (tax exempt one-tier) dividend per share (cents) |
2.00 |
1.50 |
0.50 |
NM : Not meaningful
The complete 1Q FY2007 financial statements are available on SGXNET and the Investor Relations page of SGX’s website at www.sgx.com. (SGX SP, SGXL.SI)
