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.