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
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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
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