Wednesday 24 August 2016

London Stock Exchange full-year profits up 31pc

Published 04/03/2016 | 07:55

REUTERS/Toby Melville/Files
REUTERS/Toby Melville/Files

London Stock Exchange Group, which is in talks to merge with Deutsche Boerse to create a pan-European trading house, reported a 31pc rise in full-year adjusted pre-tax profit on Friday.

  • Go To

The company, which owns Borsa Italiana and the London Stock Exchange, said discussions with Deutsche Boerse were ongoing over a potential merger which would create substantial revenue and cost benefits.

LSE and Deutsche Boerse said last week they were in merger talks, although New York Stock Exchange owner Intercontinental Exchange has raised the prospect of a bidding war by saying it is considering making a counter-offer.

Adjusted pre-tax profit rose to £643.4m (€830m) from £491.7m a year earlier.

Revenue rose 78pc to £2.28bn. Revenue includes both continuing and discontinued operations and excludes unrealised gains and losses for 2014 at LCH.Clearnet.

Analysts had forecast on average full-year pre-tax profit of £589.01m. Revenue fell short of forecasts for £2.396bn, according to Thomson Reuters I/B/E/S.

The company proposed a higher final dividend of 25.2p per share, implying a 20pc increase in the dividend for 2015.

Reuters

Read More

Promoted articles

Editors Choice

Also in Business