The London Stock Exchange Group (LSE) has announced a third quarter trading update for the three months ended 30 September 2023:
Total income up 8.0% on a constant currency basis
Good growth across all divisions with Data & Analytics growing by 7.2%
LSE are on track to deliver full year growth in total income towards the upper end of the 6-8% guidance range
Charlie Huggins, manager of the ‘Quality Shares Portfolio’ at Wealth Club, commented:
“The difficult economic backdrop doesn’t seem to be impacting LSE much. This is because around three quarters of its revenue is recurring, and the products and services it provides tend to be mission-critical to customers. This makes the LSE a pretty resilient business, as these results highlight.
The Refinitiv deal transformed LSE’s data capabilities, creating a financial powerhouse to rival Bloomberg. So far, the integration seems to be progressing broadly to plan. LSE’s Data & Analytics business, much of which came from the Refinitiv merger, grew by 7.2% in the quarter, a solid performance.
Confidence in the Refinitiv deal is growing. While it is still too early for LSE to declare victory, given the complexity of this multi-year merger, every quarter of good delivery will help to quieten the sceptics.”
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For further information contact:
Jo Thorne: 07939882816, [email protected]
