"Outstanding" results for LSE


The London Stock Exchange (LSE) has reported "outstanding" full-year results, with revenues for Europe's largest share market up 19 per cent on last year.

The 300-year-old stock exchange said that revenues before exceptional items had grown to £291 million for the year to March 31st 2006.

The group's operating profit for the period also beat analyst expectations, rising 42 per cent to £120.1 million.

The LSE, which has fought off two takeover bids in recent months, said that it expected to deliver another "very strong performance" in 2007.

Welcoming the results, the LSE chief executive, Clara Furse, said: "The exchange has delivered an outstanding result for 2006, increasing value for shareholders and customers."

She said that the internationalisation of the LSE's market, coupled with the technology-led and derivatives-linked growth on its electronic trading service, SETS, reflected the exchange's increased customer focus.

"We have made a very good start to the current financial year. We expect to deliver another very strong performance in 2007 as the secular change in the trading of UK equities continues," added Ms Furse.

Last week the US high-tech exchange Nasdaq increased its holding in the LSE to 25.1 per cent, following a failed £2.43 billion takeover bid for the London stock market in March.

The LSE also fought off a takeover offer from the Australian investment bank Macquarie earlier this year.

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