Key Points of LSEG six month interim results to 30th September 2013:
• Good overall financial performance with headline revenue growth across all of the Group's main business areas
• Revenue up 44 per cent to £504.2 million (H1 FY 2013: £349.8 million), including five months' contribution from LCH.Clearnet; revenue up 8 per cent on organic and constant currency basis
• Total income (excluding unrealised gains/losses at LCH.Clearnet) up 34 per cent at £567.1 million (H1 FY 2013: £423.7 million); down 4 per cent on organic and constant currency basis
• Underlying operating expenses kept broadly flat, reflecting continued good cost control
• Adjusted operating profit1 up 6 per cent at £229.9 million (H1 FY 2013: £217.2 million); down 13 per cent on organic and constant currency basis; operating profit of £151.0 million (H1 FY 2013: £186.8 million)
• Adjusted basic EPS1 of 48.2 pence (H1 FY 2013: 51.8 pence); basic EPS of 24.9 pence (H1 FY 2013: 43.0 pence)
• Interim dividend up 4 per cent to 10.1 pence per share (H1 FY 2013: 9.7 pence per share)
• Acquisition of majority stake in LCH.Clearnet completed in May 2013, with major project programmes now live to deliver operational efficiencies, synergies and other benefits; new LCH.Clearnet Group CEO appointed
• SwapClear discussions are ongoing to ensure EMIR compliance
• Numerous new products, services and projects live in the period, including: a CSD in Luxembourg; MTS swaps service; a London-based derivatives market; the launch of FTSE Super Liquid contracts; new FTSE fixed income indices business and acquisition of majority stake in the EuroTLX retail bond platform
"This has been a good overall first half for the Group. The 44 per cent rise in our revenue reflects an underlying increase of 8 per cent, with growth across all our business divisions, as well as the first time inclusion of LCH.Clearnet. Particular highlights include strong performances from our fixed income business, the resurgent IPO market and further growth in FTSE from both the organic business and the new fixed income indices business.
"The Group is increasingly international and diverse and we are well positioned in a wide range of businesses and markets. We remain focused on developing growth opportunities, realising the benefits from the acquisition of LCH.Clearnet, and delivering on our strategy."