The shares of Lodon Stock Exchange Group (LSE: LSE) added 27p to 1,881p this morning after it reported a strong third quarter, with total income up nearly 50%.
The group, which delivers trading systems among its principle activities, saw total revenue climb to £272 million in the months ended 31 December.
Future outlook is simarly positive with revenues in capital markets rising 21% as the number of new issues nearly doubled. The group pointed to positive signs in its primary markets which could lead to further improvements in trading.
Chief executive, Xavier Rolet, had the following to say:
“The Group continued to make good progress, delivering further revenue growth in the past quarter. All of our main business segments have recorded good performances, both through organic development and as a result of successful additions to the Group’s portfolio of businesses.
Significant focus remains on the integration of LCH.Clearnet, with a number of detailed programmes underway to achieve the widespread benefits of the transaction. We are also focused on developing further growth opportunities across the Group, building on our increasingly diverse world class assets and working in partnership with our customers to deliver service and product innovation.”
With a market cap of a little over £5 billion, London Stock Exchange Group currently trades at 18 times expected earnings and offers a prospective dividend yield of 1.55%
