Shares in London Stock Exchange Group (LSE: LSE) lifted more than 4% in early trade this morning, following a positive interim management statement for the quarter ending 30 June 2013.
Group revenue increased by 39% against the comparative quarter last year, coming in at £249.7m, following “growth across all business divisions and the first-time addition of LCH.Clearnet”.
This acquisition saw a total income contribution of £60.7m since the group took a holding in a majority stake in the independent clearing house, though LCH.Clearnet CEO Ian Axe is set to stand down once his successor is found.
Elsewhere, the Information Services division saw revenues rise 11%, Post-Trade Service up 10% (excluding LCH.Clearnet), Capital Markets lifted 11% and Technology Services rose 28% thanks to a “strong performance from MillenniumIT”.
Group chief executive Xavier Rolet commented:
“Our portfolio of complementary global brands continues to perform well and we have seen revenue growth across all of our business divisions. In particular, we have delivered strong results from FTSE, MillenniumIT and from Capital Markets, reflecting an uplift in admissions and money raised, and improving market sentiment in secondary markets.”
With London Stock Exchange having risen over 50% in the last 12 months, outperforming the FTSE 100 as it has done so, the group has benefited from a strong bull market run, and could see further gains if these favourable conditions continue.
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> Sam does not own shares in London Stock Exchange Group.
