LSE: first-half earnings beat expectations
(CercleFinance.com) - London Stock Exchange Group slightly beat analysts' expectations, with a 21 percent jump in its first-half adjusted operating profit, helped by strong perfofmance at stockmarket indices provider FTSE Russell and at its clearing house LCH.
The stock exchange operator reported adjusted operating profit of 480 million pounds for the six first months of the year, compared with 398 million pounds last year.
Revenue jumped by 12% to 953 million pounds, with double-digit revenue growth in Information Services, LCH and Capital Markets.
"The group has delivered another strong performance, with growth across all business areas," said CFO David Warren.
"LCH has launched new products and set new records for clearing levels in the SwapClear and ForexClear services, while FTSE Russell has produced another good result," he added.
Analysts at UBS said the first half marked a "positive start" for the new CEO David Schwimmer.
LSE Group said that it has increased its interim dividend by 19%, to 17.2 pence per share.
LSEG shares have risen by up to 3% today, outperforming the FTSE 100, which is down 1.1%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The stock exchange operator reported adjusted operating profit of 480 million pounds for the six first months of the year, compared with 398 million pounds last year.
Revenue jumped by 12% to 953 million pounds, with double-digit revenue growth in Information Services, LCH and Capital Markets.
"The group has delivered another strong performance, with growth across all business areas," said CFO David Warren.
"LCH has launched new products and set new records for clearing levels in the SwapClear and ForexClear services, while FTSE Russell has produced another good result," he added.
Analysts at UBS said the first half marked a "positive start" for the new CEO David Schwimmer.
LSE Group said that it has increased its interim dividend by 19%, to 17.2 pence per share.
LSEG shares have risen by up to 3% today, outperforming the FTSE 100, which is down 1.1%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.