Singapore Exchange's annual adjusted profit rises 10.3% on derivatives, treasury boost

(Reuters) - Singapore Exchange posted a 10.3% rise in annual adjusted profit on Thursday, helped by strong demand for its derivatives products, higher volumes across asset classes and a rise in associated treasury income.

Higher volumes for currency and commodity derivatives helped offset subdued capital-raising activity and trading volumes at the bourse's cash equities market as high inflation and interest rate hikes squeezed growth and corporate earnings.

New equity listings on SGX fell to eight during the year, compared with 17 listings a year earlier.

"While the unprecedented rapid tightening of monetary policies around the world has impacted capital-raising activities globally and in Singapore, we are optimistic that our pipeline of listings will come to market when conditions improve," CEO Loh Boon Chye said in a statement.

The bourse operator said its adjusted net profit attributable was S$503.2 million ($370.22 million) for the year ended June 30, compared with S$456 million a year earlier.

SGX's derivatives revenue from fixed income, currencies and commodities (FICC) increased 33.8% to S$338.2 million, accounting for 28.3% of its total revenue.

It also proposed a final quarterly dividend of 8.5 Singapore cents per share, higher than 8.0 cents declared a year earlier.

($1 = 1.3592 Singapore dollars)

(Reporting by Himanshi Akhand and Archishma Iyer in Bengaluru; Editing by Shilpi Majumdar)