London Stock Exchange Group Sees 2023 Income Growth at Top End of Range

   By Elena Vardon 
 

London Stock Exchange Group reported a fall in pretax profit for the first half of 2023 and upped its total income growth views for the year to the top end of its guided range.

The stock-exchange and financial-information company on Thursday posted a pretax profit of 662 million pounds ($841.5 million) for the six months ended June 30, down from GBP803 million for the same period the previous year.

Adjusted pretax profit was GBP1.355 billion, up from GBP1.33 billion, missing estimates from a company-compiled consensus that had expected GBP1.39 billion, it said.

Total income excluding recoveries rose to GBP3.99 billion from GBP3.57 billion, while consensus had expected GBP3.98 billion.

The London-listed group now expects its 2023 total income excluding recoveries to grow toward the upper end of the previously guided range of 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.

The board declared an interim dividend of 35.7 pence a share, up from 31.7 pence a year earlier.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

August 03, 2023 02:50 ET (06:50 GMT)

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