London Stock Exchange posts 31% rise in profitFriday 04 March 2016 15.58
The London Stock Exchange Group, which is in talks to merge with Deutsche Boerse to create a pan-European trading house, reported a 31% rise in full-year adjusted pre-tax profit today.
The company owns Borsa Italiana and the London Stock Exchange.
It said today that 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.
The company said its adjusted pretax profit rose to £643.4m from £491.7m a year earlier. Revenue rose 78% to £2.28 billion.
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 pretax profit of £589.01m.
Revenue fell short of forecasts for £2.396 billion, according to Thomson Reuters.
The company proposed a higher final dividend of 25.2 pence per share, implying a 20% increase in the dividend for 2015.