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MENAFN - AFP - 16/11/2012

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(MENAFN - AFP) London Stock Exchange Group on Friday posted flat first-half net profits, despite rising sales, as it grappled with "challenging" market conditions.

Earnings after taxation stood at 116.0 million (184 million, 144 million euros) in the six months to September, compared with 116.1 million in the same part of last year, the LSE said in a results statement.

Revenue grew by seven percent to 349.8 million in the first half, boosted by growth by its information services, post-trade services and technology businesses.

"We continue to adapt to an evolving regulatory landscape and market conditions remain challenging in some areas, notably in capital markets, but we remain strongly placed to benefit from market improvements and the opportunities presented by industry changes," said chief executive Xavier Rolet.

In recent years, the LSE group -- which operates the London Stock Exchange and Italy's Borsa -- has been aggressive in trying to woo foreign companies to list in London.

At the same time, the company has also sought to enlarge its business through acquisitions.

Last December, the LSE bought the remaining 50-percent stake in stock markets data provider FTSE International Ltd that it did not already own from publisher Pearson.

In March, meanwhile, it announced a deal to buy a majority stake of up to 60 percent in leading independent clearing house group LCH.Clearnet.

However, the LSE failed last year in an attempt to purchase Canada's TMX Group Inc, operator of the Toronto Stock Exchange.

"Looking ahead, the group is well placed as we continue to adjust our business to an evolving industry and regulatory landscape," it added on Friday.

"We will continue our focus on operational and integration efficiencies, progressing the transaction with LCH.Clearnet as well as developing further opportunities to grow and diversify the group." <


 






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