London Stock Exchange share price: Group delivers rise in FY revenue

Company reports ‘good progress’ in CEO search

London Stock Exchange share price: Group delivers rise in FY revenue

London Stock Exchange Group (LON:LSE) has unveiled that its revenues rose last year, with the company having seen growth across all its core businesses. The group also updated investors on its search for a new chief executive, after Xavier Rolet stepped down as CEO in November last year.

London Stock Exchange’s share price has slipped into the red this morning, having given up 0.43 percent to 3,925.00p as of 10:31 GMT. The stock, however, is marginally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.66 percent in the red at 7,128.26 points.

LSE posts rise in revenues

LSE announced in a statement this morning that its total revenue had climbed 17 percent to £1.77 billion last year, while the group’s total income had advanced 18 percent to £1.96 billion, with the company having enjoyed headline growth across all core business divisions, namely Information Services, Post Trade and Capital Markets.

“We have delivered another year of strong performance with growth across all of our core businesses, including double-digit revenue increases at FTSE Russell and LCH OTC,” David Warren, CFO and interim CEO, commented in the statement.

The group’s adjusted earnings per share rose 19 percent to 148.7p, and LSE hiked its final dividend to 37.2 pence per share, taking its total payout to shareholders for the year to 51.6p, marking a 19-percent increase on 2016.

Chief executive search update

The company further updated investors on its search for a new boss, saying that it had made ‘good progress’ on the CEO recruitment, “with a strong field of high quality candidates”.

The group’s former boss Xavier Rolet stepped down in November last year, with hedge fund shareholder TCI losing a battle to keep him at the helm of the company.

As of 10:46 GMT, Friday, 02 March, London Stock Exchange Group Plc share price is 3,903.00p.

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