Singapore Exchange profit up 14% in 2Q FY2011

Adjusted net profit came in at $81.7 million and net profit without adjustment came in at $74.2 million.

Revenue also rose 14% to $172.2 million primarily due to increased trading activities in the securities market, according to Singapore Exchange. Adjusted return on equity was 11.3% (11.1%) and the earnings per share was 7.66cents (7.24 cents). Directors have declared an interim dividend of 4.0 cents per share for 2Q FY2011.

Mr Magnus Bocker, SGX CEO said, “We saw growth across all our businesses which contributed to the strongest quarter in over a year. We will continue to grow our membership base and launch new products and services. We are on track to roll out the Reach initiative, starting with the launch of co-location services for our members and customers in the new data centre in 4Q FY2011 and SGX Reach (new securities trading engine) in later 2011. This will further strengthen SGX’s position as the Asian Gateway.”