Singapore Exchange (SGX) recently reported 2HFY23 revenue of S$623.0m, representing y-o-y growth of 7.9% y-o-y. This was driven largely by its Currencies and Commodities business (+35.0% y-o-y) due to higher trading and clearing fees and treasury income, and to a smaller extent its Equities - Derivatives segment, but partially offset by weakness seen at its Fixed Income and Cash Equities businesses.
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For SGX’s FY23 results, revenue and PATMI rose 8.7% and 26.5% to S$1,194.4m and S$570.9m, respectively, while core PATMI was up 10.3% to S$503.2m.
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SGX's management said that it is targeting to grow its revenue by high-single digit percentage range in the medium term, which would be underpinned by its multi-asset platform. It also intends to increase its dividend by a CAGR of mid-single digit percentage range over the medium term, subject to its earnings growth trajectory.
Mixed outlook
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Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
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