Despite a tumultuous past few months that included a failed bid by Deutsche Borse, the London Stock Exchange has reported an increased gross turnover for the year ended March 31, 2005, of 4% to £259.7 million (2004 was at £250.4 million), while net turnover rose 3% to £244.4 million (2004 was at £237.0 million.
Operating profit before exceptional items and goodwill amortisation down one per cent to £82.0 million and down 10 percent including exceptional items and goodwill to £73.2 million and basic earnings per share were up 7% to 23.1 pence and adjusted basic earnings per share up 11% to 23.5 pence.
“The Exchange benefited from successful new initiatives and improving market conditions, with a 4% growth in turnover and 11% increase in adjusted basic earnings per share. We are pleased to raise the final dividend to 5.0 pence per share, which gives a 46 per cent lift in total dividend per share, reflecting the Board’s confidence in the business,” Chris Gibson-Smith, chairman of London Stock Exchange, said.
“Although we have been engaged in discussions regarding possible offers for the company and await the findings of the Competition Commission, we nevertheless remain focused on the operational performance of our business and are confident the Exchange is well placed for the future,” added Clara Furse, chief executive of the Exchange, said.
“Our performance reflects improvement in each of our core business areas: an uplift in new issue activity, continued strong trading volumes on the SETS electronic order book and an increase in the number of professional terminals taking Exchange data. The continuation of these positive trends in our business provides encouragement for the year ahead.”