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London Stock Exchange revenue rises, Refinitiv acquisition on track

By Michele Maatouk

Date: Friday 28 Feb 2020

London Stock Exchange revenue rises, Refinitiv acquisition on track

(Sharecast News) - London Stock Exchange posted a rise in full-year revenue and income on Friday as it said the acquisition of Refinitiv was on track to complete in the second half.
In the year to the end of December, total revenue and income rose 8% to ?2.1bn and ?2.3bn, respectively. Adjusted operating profit was up 14% to ?1.1bn while adjusted earnings before interest, tax, depreciation and amortisation increased 19% to ?1.2bn.

LSE said its post trade divisions continued to perform well, with LCH delivering a 14% jump in income to ?756m.

The company proposed a final dividend of 49.9p a share, taking the full-year dividend up 16% 70p a share.

Chief executive officer David Schwimmer said: David Schwimmer, CEO, LSEG said: "It was another strong year for London Stock Exchange Group - delivering a good financial performance, making meaningful progress executing on our strategic objectives, and taking significant steps on a number of group-wide initiatives. The group continued to perform well, navigating an evolving macroeconomic and geopolitical landscape and remains well positioned for the future.

"Refinitiv brings highly complementary capabilities in data, analytics and capital markets as well as deep customer relationships across a global business. Detailed integration planning is underway to ensure we are ready to deliver the benefits of the transaction to our shareholders, customers and other stakeholders. We remain on track to close the transaction in the second half of this year."

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