LSE first-half revenue up 18 per cent

London Stock Exchange Group reported an 18 per cent rise in first-half revenue yesterday, as its diversification strategy continued to bear fruit.
By The Newsroom
Published 14th Nov 2014, 06:00 BST

Revenue for the six months to September 30 rose to £592.6m from £504.2m a year earlier.

Operating profit - adjusted to take into account the impact of the acquisition of a majority stake in clearing house LCH.Clearnet and other factors - was up 24 per cent at £286.1m.

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Under Chief Executive Xavier Rolet, the LSE has sought to broaden its earnings, moving into strong potential growth areas like post-trade and information services.

It recently agreed a $2.7bn takeover of US index compiler and asset management group Frank Russell, its largest ever acquisition.

The LSE said it was on track to complete the acquisition before the end of 2014 and had received approval from the Competition and Markets Authority.