LONDON (dpa-AFX) - London Stock Exchange Group plc (LSEG.L) announced its interim results for the six months ended 30 June 2024, reporting a 4.7% increase in profit before tax to 693 million pounds, from 662 million pounds in the previous year.
Earnings per basic share for the period was 64.7 pence down 16.2% from the prior year's due to increasing non-underlying amortization from the Refinitiv acquisition and a higher reported tax rate.
But adjusted earnings per share for the period rose 8.1% to 174.0 pence from the prior year, reflecting strong income growth, good cost control and a lower share count.
Total income, including recoveries, grew to 4.39 billion pounds from 4.18 billion pounds in the prior year.
The company said it looks forward to further progress in the second half of the year. The medium-term guidance remains unchanged. The company expects annual organic revenue growth in the mid to high single digits, with acceleration anticipated after 2024.
The underlying EBITDA margin is projected to improve gradually over time. Capital expenditures are expected to decrease to a high single-digit percentage of income, excluding recoveries, over time.
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