- Singapre Exchange (SGX) declared an interim dividend of 8.5 cents for 2QFY24, within our expectations.
1HFY24 net profit missed our and consensus estimates
- - Read this at SGinvestors.io -
- Although revenues rose 4% y-o-y on the back of the strong performance of its fixed income, currencies and commodities (FICC) segment in 1HFY24, weaker contributions from its equities and softer-than-expected treasury income (despite the elevated interest rate environment) had led to the miss.
Currencies and commodities remained SGX’s key growth driver
- - Read this at SGinvestors.io -
- Nonetheless, the momentum of its over-the-counter (OTC) FX business was further propelled, with its average daily value traded rising 47% y-o-y to S$100bn in 1HFY24 as the demand for risk management solutions rose.
- Given its growth trajectory, FICC’s revenue contribution rose to 26% in 1HFY24 (1HFY23: 21%).
Equities business still lacklustre amid elevated interest rates
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Andrea CHOONG CGS-CIMB Research | https://www.cgs-cimb.com 2024-02-01
Previous report by CGS-CIMB:
2023-09-19 Singapore Exchange (SGX) - Trading Volumes Relatively Subdued.
Price targets by 6 other brokers at SGX Target Prices.
Listing of research reports at SGX Analyst Reports.
Relevant links:
SGX Share Price History,
SGX Announcements,
SGX Dividend Payout Dates & Corporate Actions,
SGX News
