London Stock Exchange Group Reports Fall in Pretax Profit for H1 2023

by webmaster

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.

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Positive Outlook

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.

Improved Dividend

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.

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