LSE profit drop; its merger with Deutsche Boerse progressing well

Big 5

London Stock Exchange Group PLC reported on Thursday a decline in interim net profit due to expenses such as merger costs, but said it is performing well and the merger with German exchange operator Deutsche Boerse AG (DBOEF) is progressing well.

Net profit from continuing operations for the six months ended June 30 fell to 95.4 million pounds ($127.1 million) from GBP115.5 million in the same period a year earlier, on revenue up GBP721.9 million from GBP663 million a year earlier. The dividend rises 11% to 12 pence.

“The Group is well diversified both by business activity and by geography, with operations in the U.K., continental Europe, United States and Asia,” Chief Executive Xavier Rolet said.

“By successfully operating a full range of open access market infrastructure services, we are well positioned to navigate political and macroeconomic changes,” he added.

Source: MarketWatch