LSE profit up 26pc

The London Stock Exchange has shrugged off slower trading through the middle part of the year to report profit growth for the first half.

The UK exchange, which owns the UK and Italian stock exchanges, as well as smaller bonds and derivatives markets, said its profit for the six months to the end of September was up 26 per cent to £100.2m, from £9.4m last year.

Revenue rose 1 percent to £318.4m compared to £314m last year.

Revenue in the UK exchange's main capital markets business was down 10 per cent to £136.9m for the six months, but the LSE's numbers were buoyed by growth in its listings and post-trade units.

"This was a good first half-performance, with the uplift in earnings reflecting contributions from our increasingly diversified international exchange business," said Xavier Rolet, the LSE's chief executive.