Australia markets open in 1 hour 39 minutes
  • ALL ORDS

    7,700.40
    -9.10 (-0.12%)
     
  • AUD/USD

    0.7061
    -0.0045 (-0.63%)
     
  • ASX 200

    7,481.70
    -12.10 (-0.16%)
     
  • OIL

    77.89
    -1.79 (-2.25%)
     
  • GOLD

    1,939.20
    -6.40 (-0.33%)
     
  • BTC-AUD

    32,286.86
    -1,521.85 (-4.50%)
     
  • CMC Crypto 200

    515.79
    -22.08 (-4.11%)
     

FTSE 100: London Stock Exchange revenues continue to climb

People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville
London Stock Exchange Group sticks with targets in quarterly update. Photo: Toby Melville/Reuters

The London Stock Exchange Group (LSEG.L) reported a 16.2% rise in third-quarter income, with growth across all divisions.

The stock exchange and financial information company said it was "well positioned" for further growth, and that there was no change to guidance or targets, after third-quarter income rose by 16.2% — or by 5.9% on a constant currency basis — to £1.91bn ($2.13bn). The figure was ahead of forecasts for around £1.88bn.

The group's shares were down 2.6% in early trading after the announcement on Friday.

"Our strategy is working, delivering growth and increasing efficiency," LSEG chief executive David Schwimmer said in a statement.

Gross profit in the third quarter rose to £1.696bn.

Read more: FTSE: Deliveroo warns of lower sales as cost of living crisis hits takeaway orders

Data and analytics drove the gains with an increase to £1.27bn from £1.10bn, while capital markets rose to £369m from £309m.

This content is not available due to your privacy preferences.
Update your settings here to see it.

"We have delivered another strong quarter, with good growth across all businesses. The consistency of delivery in recent quarters demonstrates the strength of our business model, generating quality recurring revenues from a range of services that are highly valued by our customers,” Schwimmer added.

Read more: FTSE 100 tumbles as the Conservative party scrambles to replace Liz Truss

Annualised subscription value (ASV) rose 5.8% in the quarter, and is up 280 basis points since the Refinitiv acquisition in early 2021. LSEG bought the data analytics company for £27bn.

It also said it returned £235m in the third quarter under its £750m share buyback programme.

Watch: LSEG CEO: Europe has a ‘greater sensitivity’ to recession risks