The London Stock Exchange Group (LSEG) has seen its income increase in H1 2023 compared to H1 2022, from £3.57 billion to £3.99 billion, a 12% increase.
This was increase was despite a reported 17.6% drop in profits before tax (PBT) in H1 2023 as against H1 2022, despite strong post trade and capital markets results.
The firm’s PBT in H1 2023 stood at £729 million, down from £897 million in H1 2022.
Capital markets saw a 5.4% increase from H1 2022 to H1 2023, increasing from £720 million to £759 million.
Post trade saw a 22.2% jump from H1 2022 to H1 2023, increasing £483 million to £590 million.
The firm’s total income excluding recoveries in H1 2023 stood at £3.99 billion, up from £3.57 billion in H1 2022 helping to inch up operating profit by 0.7% from £1.4 billion to £1.41 billion.
Similarly, the firm saw its earnings before interest, tax and depreciation and amortisation (EBITDA) increase from £1.79 billion to £1.87 billion from H1 2022 to H1 2023.
LSEG CEO David Schwimmer said: “Post trade once again demonstrated the critical role it plays in helping customers manage risk in uncertain markets, delivering outstanding growth. Our capital markets businesses also made progress, despite a very strong prior period.”
Schwimmer said LSEG “delivered strong, broad-based growth” in the first half of the year, attributing some of that to the firm’s growing data and analytics business, “with the ongoing improvements to our offering and strengthened customer relationships increasingly reflected in financial performance”.
©Markets Media Europe 2023
