London Stock Exchange reports solid revenue growth and a good start from new acquisition

The London Stock Exchange has reported a 39 per cent annual increase in revenues to £249.7m for the three months ended 30 June 2013, boosted by £49m in revenues from its LCH.Clearnet acquisition and growth across all business divisions.

Commenting on performance in the past quarter, group chief executiveXavier Rolet said:

The Group has made a positive start to the year. Our portfolio of complementary global brands continues to perform well and we have seen revenue growth across all of our business divisions. In particular, we have delivered strong results from FTSE, MillenniumIT and from Capital Markets, reflecting an uplift in admissions and money raised, and improving market sentiment in secondary markets.

We are also pleased to report the first revenue contribution from LCH.Clearnet, which showed year on year top line growth, including strong performance from the SwapClear IRS service as it continues to gain good traction. Work is underway to drive the synergy benefits from the transaction with LCH.Clearnet.

We remain focused on delivering benefits from recent transactions, developing opportunities and expanding our global footprint. The Group is well placed to build on the positive start we have made so far this year.

Meanwhile, LCH.Clearnet is searching for a new chief executive after announcing Ian Axe was leaving the clearing house. Axe joined the company from Barclays in 2011 and has agreed to remain in place to oversee the handover.