Long-running takeover target the London Stock Exchange (LSE) Group today reported a strong rise in full-year turnover and operating profit.
Europe's largest share market said operating profit for the year ended March 31st, leapt 42 per cent to £120.1 million, beating the consensus of market expectations of £118.7 million. Revenue before exceptional items rose 19 per cent to £291.1 million, compared with the consensus forecast of £289 million.
Current strong trading conditions - driven by continued growth in hedge fund and algorithmic trading - pointed to a continued strong performance, the 300-year old exchange said in a statement.
The LSE has been embroiled in a long running takeover saga that has taken in the major players on both sides of the Atlantic.
But it declined to comment on any specific developments, save that it will be meeting with shareholders - including Nasdaq Stock Market, which now owns more than 25 per cent - as usual following the release of results.
