London: London Stock Exchange Group Plc, which has agreed to merge with German rival Deutsche Boerse to create a giant European trading house, reported a 19 per cent rise in third-quarter total income from continuing operations, aided by growth in all its businesses.
The company, which owns Borsa Italiana and the London Stock Exchange, said on Thursday that total income from continuing operations rose to 414.6 million pounds ($508.8 million) in the quarter ended Sept. 30 from 349.4 million pounds a year earlier.
Four analysts had forecast total income from continuing operations of 397.2 million pounds, according to company provided consensus estimates.
“We remain focused on achieving the necessary regulatory approvals to complete the merger with Deutsche Boerse, creating a global markets infrastructure group,” LSE Chief Executive Xavier Rolet said in a statement.
Third-quarter revenue from continuing operations rose 15 per cent to 376.2 million pounds, higher than a company supplied estimate of 366.8 million pounds.
LSE, which has offered to hive off its French clearing business in a bid to win merger approval from the European Union, said LCH, the clearing house, saw income increase by 29 per cent to 114.9 million pounds.
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 16 per cent to 89.6 million pounds, with growth in both primary and secondary markets despite volatile markets, the exchange operator said.
This is LSE’s first set of quarterly results since Britain’s vote to leave the European Union, with the fall in the pound helping to send UK stock markets to record highs as foreign investors take advantage of sterling weakness.
The pound has fallen 17.5 per cent against the dollar GBP since the vote on June 23.
