London Stock Exchange Group Plc, which has agreed to merge with German peer Deutsche Boerse to create a giant European trading house, reported a rise in first-half adjusted operating profit on Thursday and said it was working on securing regulatory approvals.
The company, which owns Borsa Italiana and the London Stock Exchange, said adjusted operating profit rose 9 percent to 333.3 million pounds ($443.4 million) in the six months ended June 30. Revenue rose 9 percent to 721.9 million pounds, boosted by strong growth in its FTSE Russell and clearing services divisions.
Analysts had expected first-half adjusted operating profit of 334 million pounds with revenue of 705.7 million pounds, according to a company provided consensus estimate from five analysts. The company, whose shareholders have overwhelmingly voted to approve the about $28 billion deal with its German counterpart, said it would pay an interim dividend of 12 pence per share, up from 10.8 pence per share a year earlier.
Its capital markets division, which makes money from fees paid by companies listing on its markets and trading of stocks and bonds, saw revenue rise by 7 percent to 181.6 million pounds.
LSE's clearing house, LCH Clearnet, saw revenue increase by 12 percent to 167.1 million pounds.
Revenue from FTSE Russell, a part of the group's information services business, rose 13 percent to 193.5 million pounds. The group, which operates in the UK, continental Europe, United States and Asia, said it was well positioned to navigate political and macroeconomic changes. LSE and Deutsche Boerse have both said the proposed merger of Europe's two biggest financial exchanges is effectively bullet-proofed against Britain's vote to leave the European Union.
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