London Stock Exchange Group has reported a decrease in pretax profit for the first half of 2023, while increasing its total income growth expectations for the year. For the six months ended June 30, the stock-exchange and financial-information company recorded a pretax profit of £662 million, compared to £803 million in the same period the previous year. Adjusted pretax profit was up at £1.355 billion from £1.33 billion, falling short of the estimated £1.39 billion. However, total income excluding recoveries experienced a rise to £3.99 billion from £3.57 billion, exceeding the expected £3.98 billion.
London-listed group now projects its 2023 total income (excluding recoveries) to grow towards the upper end of the previously guided range of up to 8%. It remains confident in achieving its earnings before interest, taxes, depreciation, and amortization margin target of approximately 48%. Additionally, the company anticipates capital expenditure of around £750 million.
The board of London Stock Exchange Group has declared an interim dividend of 35.7 pence per share, indicating an increase from 31.7 pence in the previous year.