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S68 - Singapore Exchange News Story

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Last Trade - 10:04am

Sector
Financials
Size
Large Cap
Market Cap £5.75bn
Enterprise Value £5.52bn
Revenue £584.3m
Position in Universe 275th / 6100

UPDATE 1-Singapore Exchange posts biggest annual profit in a decade

Fri 27th July, 2018 12:43pm
(Adds details on dividend, background)
    By John Geddie
    SINGAPORE, July 27 (Reuters) - Singapore Exchange Ltd
 SGXL.SI  on Friday posted its biggest annual profit since 2008
bolstered by record derivatives trading volumes and bond
listings.
    Net profit rose 7 percent to S$363 million ($266 million) on
revenue up 5 percent at S$845 million, its highest since 2000.
    Analysts had expected net income of S$372 million on revenue
of $849.2 million, Thomson Reuters I/B/E/S data showed.
    Loh Boon Chye, chief executive officer of SGX, said: "FY2018
was a record milestone in our financial performance.
    "All three core businesses registered higher revenues...with
the number of bond listings and derivatives trading volumes
reaching record highs."
    Derivatives revenue rose 12 percent to S$339.8 million and
accounted for 40 percent of total revenue.
    SGX is in danger of losing a lucrative part of that business
 - futures tracking India's National Stock Exchange  NSEI.NS 
which allow foreign investors to bet on Indian equities.
    In February, three Indian bourses, including NSE, said they
would stop licensing their indexes to foreign bourses. 
    There were signs this week of a thaw in the dispute, with
SGX and NSE resuming talks on a potential collaboration at an
international financial centre in western India.  urn:newsml:reuters.com:*:nL4N1UL46W 
    SGX's board proposed a final dividend of 15 cents (13 cents)
per share, payable on 5 October. This brings the total annual
dividend to 30 cents per share, which if approved would be the
highest annual dividend in 10 years.
     ($1 = 1.3633 Singapore dollars)

 (Reporting by John Geddie; editing by Gopakumar Warrier and
Jason Neely)
 ((John.Geddie@thomsonreuters.com; +65 6403 5578; Reuters
Messaging: john.geddie.thomsonreuters.com@reuters.net))
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