London: London Stock Exchange Group reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly, and said it is exploring investments to drive growth after the collapse of its proposed Deutsche Boerse merger.
LSE, which owns Borsa Italiana and the London Stock Exchange, said on Wednesday it was still actively engaged in exploring “selective ongoing” organic growth and inorganic investments.
Boosted also by the weak sterling, total income from continuing operations rose 19 per cent to £458.7 million (Dh2.15 billion, $588.8 million) in the quarter ended March 31, while comparable revenue was up 18 per cent at £420.6 million.
Analysts on an average had expected income of £448.5 million and revenue of £411.6 million, according to a company-compiled consensus.
“The group has made a strong start to the year ... We continue to be actively engaged in exploring selective ongoing organic and inorganic investments in order to drive further growth,” Chief Executive Xavier Rolet said in a statement.
Last month, European Union regulators blocked the €29 billion merger between LSE and Deutsche Boerse, citing concerns over a potential monopoly in the processing of bond trades, formally ending a deal that unravelled in the wake of the Brexit vote.
