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London Stock Exchange profits jump by 30 per cent

The group's performance boosted by a string of acquisitions, including FTSE International.

The London Stock Exchange (LSE) group has reported an adjusted operating profit of £441.9m for the fiscal year ended 31 March 2012, up 30 per cent from £341.1m last year.

Before tax, profit jumped a staggering 169 per cent to £639.7m, which includes recognition of the value of LSE's interest in FTSE (2011: £238.2m). Adjusted profit before tax surged 35 per cent from £296.3m last year to £400.6m.

Total income increased 21 per cent to £814.8m, while revenue rose 10 per cent to £679.8m (2011: £615.9m). 

Basic EPS was up 243 per cent on the year at 196.6 pence; adjusted EPS was up 36 per cent at 100.6 pence.

The proposed final dividend rose 6 per cent to 19.0 pence per share, while the total dividend increased by 6 per cent to 28.3 pence per share.

During the year, the group’s primary markets revenue grew by 8 per cent to £76.5m (2011: £70.8m), while secondary markets revenue grew by 4 per cent to £301.9m (2011: £291.5m).

Operating expenses before amortisation of purchased intangibles and non-recurring items grew 5 per cent on an organic and constant currency basis.

Xavier Rolet, chief executive of the LSE group, said:

We have made great progress this year . . . Building long-term partnerships with our customers, successfully integrating new acquisitions and delivering on our stated cost and revenue synergies will continue to be the key areas of focus for us. Our dynamic, highly competitive landscape presents good opportunities for growth, particularly in the areas of risk management and intellectual property. We will continue to innovate across our markets, products and services and we expect to make further good strategic progress.

Chris Gibson-Smith, chairman, said:

Looking ahead, we are excited by the opportunities for the business. In particular our full ownership of FTSE and our shareholder-approved transaction with LCH Clearnet will continue to transform our organisation. We are well placed and remain firmly focused in our pursuit of driving long-term shareholder value.

As of 31 March, the group had net assets of £1.45bn (2011: £1.14bn).