London Stock Exchange Group’s stock still trades more like the European exchange operator it used to be than the global information company it has become. CEO David Schwimmer faces a long haul to win over sceptical investors, writes peter_tl
London Stock Exchange Group on Aug. 6 reported a year-on-year rise of 4.6% in revenue in the first half of 2021, though warned about a pick-up in costs in the second part of the year.
LSEG said total revenue hit 3.36 billion pounds , on a pro-forma basis to reflect its takeover of Refinitiv, which completed at the end of January. Adjusted operating profit rose 4% to 1.3 billion pounds. However, it warned that it expected further cost increases in the second half of 2021, caused by the return of costs such as travel as well as ongoing expenses from legacy IT and inflation.LSEG Chief Executive David Schwimmer said on July 2 the company was confident that its data and analytics division, which houses most of the Refinitiv businesses, could deliver revenue growth of 4% to 6% a year over the medium term.
Thomson Reuters, the parent company of Breakingviews, is the former owner of Refinitiv and has a minority stake in LSEG.Pedestrians leave and enter the London Stock Exchange in London, Britain, August 15, 2017.
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