LSE reports 25 percent jump in quarterly revenues |
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Published
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Wed, 12 Jul 2006 12:40
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LONDON - London Stock Exchange Group PLC has reported a 25 percent increase in first quarter revenues, thanks to the high level of trading activity in these past few months. The total revenues climbed £84.3 million in the three months ending June 30, up from the £67.7 million at the same time in the previous year.
"The exchange has delivered a record performance in the first quarter. The continuation of very good trading underlines the value arising from our unique strategic position and our confidence in the step-change in our growth prospects," said Clara Furse, LSE's chief executive officer. LSE is owned 25 percent by U.S. NASDAQ Stock Market and is a bid target since a long time. However that intrigue has not affected trading and record volumes of electronic trading have seen LSE post handsome revenues.
"The Exchange has delivered a record performance in the first quarter ... The excellent result was driven by record trading levels on SETS," Ms Furse confirmed. LSE's SETS electronic trading platform rose by an impressive 69 percent on the year to 332,000. This performance benefited LSE's broker services, which increased 49 percent to £40.4 million.
While all other division's put in a robust performance, LSE's issuer services division was flat at 14.4 million pounds. The group also reported that there were 138 initial public offerings on its markets as compared to 184 at the same time last year.
Ms Furse said that the sales reflect "not just increased trading in particularly active markets over the past few weeks but, more fundamentally, the secular change in equity trading over the past year."
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