LSEG releases Q1 2018 results 25 April 2018London Reporter: Brian Bollen
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The London Stock Exchange Group’s (LSEG) Q1 total income was up 13 percent year-on-year to £520 million on an organic and constant currency basis.
The exchange reported that information services revenues were up 16 percent from Q1 last year with continued double-digit growth at FTSE Russell.
For post-trade, LCH income was up 18 percent (up 20 percent at constant currency), with 15 percent revenue growth in over-the-counter revenues from record volumes at SwapClear and ForexClear.
In terms of capital markets, revenues rose 14 percent (up 13 percent at constant currency), with good primary markets activity and secondary markets revenue up on higher equity volumes
Technology services revenues were down 5 percent on an organic and constant currency basis (down 37 percent) reflecting disposal of the MillenniumIT ESP and Exactpro businesses.
The report comes shortly after LSEG appointed David Schwimmer as CEO. He will begin his tenure in August this year after a 20-year career at Goldman Sachs.
Commenting on the results, David Warren, interim chief executive and group chief financial officer, said: “The Group has delivered a strong first quarter performance. All of our key businesses continue to perform well, with strong growth in FTSE Russell, LCH and Capital Markets.”
He added: “During the period, we further increased our stake in LCH and acquired full ownership of the FTSE TMX Global Debt Capital Markets business. We continue to invest in new product initiatives while maintaining a focus on improving efficiencies as we work to deliver on our financial targets.”
“The group is strategically well placed to further develop its many growth opportunities, working in partnership with our customers. ”
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