LSE Group full-year profit jumps 15 percent, no Brexit hit to clearing

LSE Group full-year profit jumps 15 percent, no Brexit hit to clearing
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo -
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London Stock Exchange Group Plc, reported a jump in full-year adjusted operating profit on Friday, saying its clearing, capital markets and information services businesses grew strongly.

LSE said adjusted operating profit rose 15 percent to 931 million pounds for the twelve months ended Dec. 31, while total income rose 9 percent to 2.14 billion pounds.

Analysts had expected adjusted operating profit of 932 million pounds, with total income of 2.13 billion pounds according to company supplied estimates from 14 analysts.

The exchange said it would cut 250 staff in 2019 to generate 30 million pounds in annual savings.

David Schwimmer, the former Goldman Sachs veteran who took over the reins at the LSE last August, said businesses, including those perceived to be most exposed to Britain's impending exit from the European Union such as clearing, continue to perform well, with no change in market position.

(Reporting by Noor Zainab Hussain in Bengaluru, editing by Huw Jones)

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