LCH profits rise by 89% in 2012

Updated: Friday, 15 Feb 2013 18:06

London and Paris based clearing house LCH Clearnet has reported a rise of 89% in full-year operating profit.

Its net revenue rose by 24%.

It also said it is talking to shareholders about raising new capital and is confident it will exceed any new regulatory requirements.

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The London Stock Exchange is set to take a majority stake in LCH by the end of this month.

LSE cut the price of its LCH offer by a quarter in December, amid fears new regulations could force the exchange to raise €300 million additional capital in 2013.

Under the new offer, the LSE will pay €366m for a 60% stake in the clearing house.

Net revenue at LCH came in at €426m for 2012, while operating profit was €127.5m.

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