London Stock Exchange reports rise in profit after merger with Deutsche Boerse fails
Boosted also by weak sterling, total income from continuing operations rose 19 per cent to £458.7m in the quarter ending 31 March
Your support helps us to tell the story
This election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.
The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.
Help us keep bring these critical stories to light. Your support makes all the difference.
The London Stock Exchange Group reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly, and said it is exploring investments to drive growth after the collapse of its proposed Deutsche Boerse merger.
LSE, which owns Borsa Italiana and the London Stock Exchange, said it was still actively engaged in exploring “selective ongoing” organic growth and inorganic investments.
Boosted also by weak sterling, total income from continuing operations rose 19 per cent to £458.7m in the quarter ending 31 March, while comparable revenue was up 18 per cent at £420.6m.
Analysts on an average had expected income of £448.5m and revenue of £411.6m, according to a company-compiled consensus.
“The group has made a strong start to the year – we continue to be actively engaged in exploring selective ongoing organic and inorganic investments in order to drive further growth,” chief executive Xavier Rolet said.
Last month, European Union regulators blocked the €29bn (£25bn) merger between LSE and Deutsche Boerse, citing concerns over a potential monopoly in the processing of bond trades, formally ending a deal that unravelled in the wake of the Brexit vote.
Reuters
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments