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London Stock Exchange profit falls despite uptick in revenue

By BFN News | 07:59 AM | Friday 28 February, 2020


British bourse operator London Stock Exchange reported a fall in profit despite an uptick in revenue led by growth in its post-trading businesses. Pre-tax profit in the year through December fell to £651m, down from £685m on-year, even as revenue rose 8% to £2.1bn. During the year the company incurred a £180m - up from £154m - amortisation charge in relation to purchased intangible assets, which included £25m of accelerated amortisation in relation to Mergent, which was acquired in 2016. The company's post trade divisions continued to perform well; LCH saw income up 14% to £756m, and LCH OTC increased revenues 15%. LSE proposed a final dividend of 49.9p per share, taking the total dividend to 70.0p a share, up 16%. The company said it remained on target to close the Refinitiv transaction in the second half of 2020. 'Our proposed acquisition of Refinitiv, a leading provider of data, analytics and financial markets services, will significantly accelerate our strategy to be a leading global financial markets infrastructure provider,' it added. Story provided by StockMarketWire.com

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