London Stock Exchange Group (LON:LSEG) has reported an 8% increase in total income, excluding recoveries, for this year, reaching £1.97 billion ($2.39 billion). This figure is up from £1.905 billion during the same period last year. The rise is attributed to broad-based growth across all sectors, despite subdued market volumes.
Income from data & analytics and capital markets rose by 7.2% and 6.2%, respectively. However, there was a decline in equities income by 8.3%. Post trade income saw a significant surge of 17%, reflecting the company’s focus on risk management services in response to evolving business needs of customers.
LSEG anticipates its total income excluding recoveries for 2023 to hit the upper end of the previously guided 6-8% range. The group also maintains an EBITDA margin target of around 48%.
CEO David Schwimmer attributed this success to ongoing innovation and the increasing share of Tradeweb in global credit trading. As part of their future plans, LSEG has earmarked a capital expenditure of GBP750 million.
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