Highlights:

• Turnover up four per cent to £259.7 million
• Operating profit before exceptional items and goodwill amortisation down one per cent to £82.0 million and down ten per cent including exceptional items and goodwill to £73.2 million
• Profit before tax up slightly to £89.1 million, including profit on disposal of Tower of £7.2m
• Basic earnings per share up seven per cent to 23.1 pence and adjusted basic earnings per share up 11 per cent to 23.5 pence
• Final dividend of 5.0 pence per share bringing the total dividend for the year to 7.0 pence per share, up 46 per cent

Commenting on the results, Chris Gibson-Smith, Chairman of London Stock Exchange, said:

“The Exchange benefited from successful new initiatives and improving market conditions, with a four per cent growth in turnover and 11 per cent 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.

“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.”

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.”

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