LSE profit up despite revenue dip

THE London Stock Exchange has ended up in profit for the year despite a drop in revenue.

It recorded a net profit of £90.4m – compared with a loss of £338m last year.

Meanwhile revenue for the year to the end of March fell 6.4 per cent to £628m.

LSE lost market share to rivals as adjusted earnings per share fell to 60.1p for the year.

Chi-X and BATS, cheaper alternatives to the LSE dubbed “multilateral trading facilities” – have been eating into the business of the LSE and other, more established, exchanges.

Chief executive Xavier Rolet said: “We recognise that there remains much work to be done and that, in many cases, the fruits of our labour to date have yet to be harvested.

“In the coming year, as we continue to deliver on the key elements of our strategy within a fluid market and regulatory environment, we expect to see further progress across our business.”