The London Stock Exchange Group plc today reported its preliminary results for the year ended March 31, 2007
Revenue before exceptional items were up 20% to £349.6 million. Also, operating profit before exceptional items rose 55% to £185.6 million, and operating profit including exceptional items was up 104% to £174.2 million. During the year, primary market activity was very strong, with 503 new issues and total money raised by new and further issues up 57% to £53.7 billion.
Commenting on the results, Chris Gibson-Smith, chairman of the LSE, said, “This has been a year of exceptional achievement, with the exchange delivering well beyond expectations on a number of important commitments and once again highlighting the unique quality of its business.”
Gibson-Smith noted that electronic trading volumes surpassed its target levels by a considerable margin and operating cost reductions were achieved. “We implemented the planned £512 million return of capital to shareholders, made good progress on our share re-purchase plan, and also increased the ordinary dividend per share by 50%. In delivering our strategy and creating a more appropriate capital structure, we have produced excellent returns for shareholders,” he added.
Clara Furse, chief executive of the exchange, said, “The exchange has again delivered an outstanding performance reflecting a year of strong growth in each of our business divisions. Investment in new technology, market services, and international business development is creating value for both customers and shareholders.”
“Trading remains strong with positive momentum carrying forward into the current financial year,” she added, noting, “We are confident of delivering another year of strong growth, as we continue to evaluate opportunities for strategic development to realize in full our vision to be the world’s capital market.”
LSE reports preliminary results for fiscal 2007
- By: James Langton
- May 16, 2007 May 16, 2007
- 09:55