London Stock Exchange plc today announced higher profits, and its intention to return more money to shareholders.

For the six months ended September 30, the LSE’s operating profit was up 24% to £50.8 million, excluding exceptional items. Including those items, chiefly a £23.1 million impairment of goodwill, operating profit was down from to £25.1 million.

As a result, the exchange is doubling its dividend to 4 pence per share from 2 pence. The company also announced its intention to return £250 million to shareholders “as soon as circumstances allow”, and a subsequent share buyback program.

In the period, new issues were up 43% to 306, including a 57% increase in Main Market new issues. The Alternative Investment Market saw the number of international companies it lists nearly double to 185, reflecting successful overseas marketing.

“The exchange has made an excellent start to the year, with particularly strong growth in Issuer and Broker Services contributing to a 15% increase in turnover. This has generated a 24% rise in operating profit before exceptional costs and a 40% increase in adjusted earnings per share,” noted CEO Clara Furse. “Technology enhancements underpin our expectations of a continuation of this strong performance. This is supported by improving operational efficiencies and cost control which should keep costs flat next year.”

“The exchange has clearly demonstrated its robust strength as an independent business, delivering strong results, despite the backdrop of an offer period and the significant resources this has entailed,” added Chris Gibson-Smith, chairman of the exchange. “The exchange’s excellent trading performance, and the increasing value this creates for shareholders, reflects the quality of the business and the actions taken to ensure we are able to capitalise on improvements in market conditions.