In summary, the enlarged group has delivered an excellent overall performance, reflecting strong organic growth and the merger with Borsa Italiana:
Financial highlights:
Revenue up 56% to 546.4 million; and adjusted operating profit (before exceptional items and amortisation of purchased intangibles) up 56% to 289.0 million
Operating profit including exceptional items and amortisation up 52% to 265.2 million and basic earnings per share up 45% to 73.1 pence
Adjusted basic earnings per share up 30% to 73.1 pence
Cash generated from ongoing operating activities, and inclusion of Borsa Italiana for 6 months, up 42% to 282.7 million
Total dividend for the year up 33% to 24.0 pence per share
139 million returned to shareholders through share buyback programmes
Revenue increased 15% to 666.8 million; pro forma adjusted operating profit up 27%to 343.0 million
Adjusted basic earnings per share up 29% to 72.9 pence
“This has been another year of considerable achievement from both a financial and strategic perspective. In financial terms, the Exchange performed strongly with adjusted basic earnings per share 30% higher at 73.1 pence per share. In strategic terms the company has continued to invest in long term growth as well as successfully completing the merger with Borsa Italiana. In light of these excellent financial results and our confidence in the future, the board intends to pay a total dividend for the year of 24 pence per share, an increase of 33%,” says Chris Gibson-Smith, chairman, London Stock Exchange.
“The Exchange has delivered excellent results, with each division recording strong growth, despite more testing conditions towards the end of the year. In particular, Trading Services delivered an exceptional performance, following the successful launch of TradElect, the Exchange’s new trading platform, as trading volumes increased by more than 80% during the year.
“The merger with Borsa Italiana diversifies our business, with a number of new assets and products that will accelerate our international development. Our integration is on track and we expect to deliver at least the synergies as announced last year. In a dynamic market environment, we are confident of achieving further growth this year,” adds Clara Furse, CEO, London Stock Exchange.