LONDON (ShareCast) - (Sharecast News) - London Stock Exchange Group more than doubled profits in the first half the year as total income grew 4.6%.

The company said adjusted pre-tax profits came in at £1.03bn from £435m a year ago. Adjusted operating expenses grew 1.1% and £77m in synergies had been achieved from the acquisition of Refinitiv.

The interim dividend was lifted 7% to 25p a share.

LSEG said it expected synergies from the Refinitiv deal to reach £125m by the end of the year, up from previous guidance of £88m.

However, it warned that it expected further cost increases in the second half of 2021, caused by the return of Covid-related costs such as travel as well as ongoing expenses from legacy IT and inflation.

Growth in the six months to June 30 was driven by an increase in recurring revenues in data & analytics and capital markets from annual listing and recurring user fees), and stronger volumes in its Tradeweb division with high transactional revenues.

Net treasury Income was at a more normalised level in the period which saw exceptional pandemic-related income from higher returns and cash margin levels, LSEG said on Friday.

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