On 19 October 2016, SGX reported 1QFY2017 results. Notwithstanding the net profit amounted to $83 million, the overall performance was poor. This is not surprising given that the bourse operator is a proxy to Singapore economy, which has been sluggish for the whole of this year. Key financial indicators Revenue: $191 million, down 13% from a year earlier Operating profit: $97 million, down 17% Net profit: $83 million, down 16% Earnings per share: 7.8 cents, down 16% Interim dividend per share: 5 cents, unchanged Revenue had been dragged by declines seen in the Equities and Fixed Income and Derivatives segments, both recording a drop of 9% and 22% respectively compared to 2016. The slowing global economic growth and the political uncertainties arising from Brexit resulted in lower trading volumes. Strength of SGX However, investors should not judge SGX’s strength on the basis of one quarter’s financial performance alone. The group’s balance sheet is actually very ......