London Stock Exchange Group Backs Guidance on Strong 3Q Performance

By Ian Walker

London Stock Exchange Group has reported an 8% rise in total income, excluding recoveries, on strong, broad-based growth across the business, and backed its full-year total income guidance.

The stock-exchange and financial-information company said Thursday that total income excluding recoveries--a key metric for the company--was 1.97 billion pounds ($2.39 billion) compared with GBP1.905 billion for the comparative period a year earlier. Recoveries mainly relate to fees for third-party content, such as exchange data, that is distributed directly to customers.

LSEG said that it expects its 2023 total income excluding recoveries to grow toward the upper end of the previously guided range of 6% to 8%. It also backed its earnings before interest, taxes, depreciation and amortization margin target of around 48% and still sees capital expenditure of around GBP750 million.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 19, 2023 02:35 ET (06:35 GMT)

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