(Corrects to show year-ago revenues 726.4 million pounds,
LONDON May 15 The London Stock Exchange
reported a near-50 percent rise in full-year revenue on
Thursday, citing earnings from recently purchased LCH.Clearnet
and an economic recovery encouraging companies back to stock
The exchange group said revenue for the year to March 31 was
1.09 billion pounds ($1.8 billion), up from 726.4 million pounds
a year earlier and above analysts' expectations of 1.05 billion
pounds in an LSE-compiled survey.
Adjusted profit before tax was up 17 percent at 514.7
The exchange acquired a majority stake in Anglo-French
clearing house LCH.Clearnet a year ago and said it expected to
deliver 60 million euros ($82.3 million) of savings in 2015,
ahead of its 23 million euro target, through job cuts and
"We have accelerated our cost saving targets at LCH.Clearnet
Group and we see opportunities for growth as the regulatory
landscape evolves," LSE Chief Executive Xavier Rolet said.
LCH.Clearnet had revenue of 263 million pounds in the year
to March 31.
The group was also helped by the return of companies and
investors to capital markets, saying it had seen firms raise
more than 34 billion pounds in equity on its platforms in the
London has proved a popular destination for initial public
offerings (IPOs), with well-known brands such as Poundland
and JustEat making their market debuts in 2014.
LSE's capital markets division pulled in 309.5 million pounds,
up 16 percent on last year.
The group proposes a final dividend increase of 4.5 percent
to 20.7 pence a share.
($1 = 0.5960 British Pounds)
($1 = 0.7294 Euros)
(Reporting by Freya Berry; Editing by David Goodman)