London Stock Exchange Group profits rise and is on course to complete Frank Russell acquisition in weeks
London Stock Exchange (LSE) Group has reported a pre-tax profit of £136.8m for the half-year ended 30 September, up from £116m the same time last year.
The FTSE 100 company enjoyed an 18 per cent rise in revenue to £592.6m, with growth across all of the Group’s business areas. The LSE said it had continued to benefit from diversification across businesses and markets.
The company’s interim dividend was hiked 4.3 per cent to 9.7p per share and is on course to finish the acquisition of Frank Russell Company before the end of the year.
After deal is wrapped up the US market should account roughly a third of LSE’s revenues.
Commenting on performance of the Group, Xavier Rolet, chief executive said:
“We have produced a strong set of first half results, with revenue up 18 per cent, reflecting increases across each of our business areas. In particular, our Capital Markets division delivered good growth in both primary and secondary market activities, FTSE revenues grew 10 per cent and LCH.Clearnet also performed well with increases in OTC and listed product clearing revenues.”
In August LSE unveiled new board member Sharon Bowles, who joined the company as non-executive director. LSE said Bowles, a former member of the European Parliament who served on the economic and monetary affairs committee, would bring “extensive knowledge of European and regulatory trends” to the board.
