London Stock Exchange Group PLC Interim Results for the Six Months

London Stock Exchange Group PLC Interim Results for the Six Months

London Stock Exchange Group PLC Interim Results for the Six Months

The FINANCIAL -- Strong financial performance – with double-digit revenue growth in Information Services, LCH and Capital Markets

Revenue up 12% to £953 million (H1 2017: £853 million); total income up 12% to £1,060 million (H1 2017: £946 million).

Adjusted operating profit1 up 21% to £480 million (H1 2017: £398 million), with underlying operating expenses on an organic and constant currency basis up 5% as the Group continues to invest in growth and efficiencies.

On a reported basis, operating profit up 29% to £393 million (H1 2017: £305 million); profit before tax up 30% to £360 million (H1 2017: £277 million); profit after tax of £283 million (H1 2017: £208 million).

Adjusted EPS1 up 25% to 88.7 pence (H1 2017: 71.2 pence); basic EPS up 41% to 71.1 pence (H1 2017: 50.4 pence).

Interim dividend increased 19% to 17.2 pence per share (H1 2017: 14.4 pence per share), in line with stated dividend policy.

Strong balance sheet position with leverage reduced to 1.6 times adjusted net debt: pro forma EBITDA.

During the period, capital deployed for acquisitions, including increasing stake in LCH Group to 68%; 100% ownership of FTSE TMX; and c.16% minority stake in AcadiaSoft alongside organic investment to capitalise on multiple growth opportunities.

FTSE Russell integration of The Yield Book is on track, delivering further expanded multi-asset index capabilities, data and analytics.

LCH continues global leadership with record clearing volume at SwapClear, and successfully launched non-deliverable and SOFR IRS. ForexClear launched options clearing.

Group is well positioned to drive further growth as a diversified, global financial markets infrastructure business – operating on an open access basis in partnership with customers.