Singapore Exchange Limited (SGX) announces a net profit of $159.2 million in 1H FY2009, 36.9% lower compared to a year ago (1H FY2008: $252.4 million1) when SGX recorded its highest half-yearly profit since listing.
Operating revenues decreased 27.9% to $304.9 million (1H FY2008: $423.2 million). Operating expenses decreased 8.2% to $109.2 million (1H FY2008: $118.9 million) due to a lower provision for variable bonus.
“Our revenues have been affected by the difficult market conditions but our derivatives business has been relatively resilient,” says Hsieh Fu Hua, chief executive officer, SGX. “Cost management has been a key focus as we remain committed to investing in technology, people and product development, ensuring that we are well-positioned for a market recovery.”
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