A robust set of earnings
First, let us recap SGX’s latest earnings for its fiscal 2023 (FY2023) ending 30 June 2023. The group reported an 8.7% year-on-year increase in revenue to S$1.2 billion for the fiscal year, driven mainly by a 27.2% year-on-year jump in derivatives revenue. Net profit climbed 26.5% year on year to S$570.9 million but after stripping out exceptional items, net profit grew 10.3% year on year to...It is a tough start to the New Year as worries over China’s GDP growth and property crisis dog the stock market.
The bellwether Straits Times Index (SGX: ^STI) has declined by around 3% since the beginning of 2024.
Despite this dip, Singapore Exchange Limited (SGX: S68), or SGX, saw its share price scale a 52-week high of S$9.98 recently.
The bourse operator saw a good start to the year but investors may be wondering if the blue-chip group can continue its momentum.
We dig deeper to determine if SGX can continue to do well in 2024.