LONDON, Aug 22 (AFP): The London Stock Exchange (LSE) Group's net profits surged by nearly 50 per cent in the first quarter on the back of a resurgence in stock market flotations, it said on Friday.
Earnings after taxation soared to £52 million ($86 million, 65 million euros) in the three months to June, compared with £35.4 million a year earlier, the LSEG said in a results statement.
Pre-tax profits meanwhile jumped 40 per cent to £83.6 million in the reporting period, while sales rallied by a fifth to £299.9 million.
The group's performance was lifted also by clearing house unit LCH.Clearnet, in which LSEG bought a majority holding in 2012.
The company announced plans to raise £938 million from a rights issue, or sale of new shares, to help fund its $2.7-billion acquisition of US asset manager Frank Russell Co.
"We continue to make good progress, delivering a strong financial performance this quarter," said chief executive Xavier Rolet in the earnings release.
"While the summer period is seasonally slower, our diversified business is very well positioned for further growth."
LSE says Q1 profits soar almost 50pc
FE Team | Published: August 23, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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