London Stock Exchange Group PLC AGM Statement (3916D)
April 26 2017 - 05:03AM
UK Regulatory
TIDMLSE
RNS Number : 3916D
London Stock Exchange Group PLC
26 April 2017
LONDON STOCK EXCHANGE GROUP PLC
Annual General Meeting
Wednesday 26 April 2017
Chairman's statement by Donald Brydon
We have navigated successfully a very busy year at a time of
extraordinary change in the global economy and political
landscape.
As well as the work on the possible transaction with Deutsche
Boerse, our flagship ELITE programme for high growth unlisted SMEs
now supports more than 500 companies across 26 countries.
AIM cemented its position as the only globally successful market
for high growth companies having enabled companies to raise over
GBP100bn in growth capital since it began.
In fixed income, we now have the most comprehensive masala bonds
offering of any major international exchange. We were also chosen
as the venue for the listing of the first Chinese sovereign RMB
bond to be issued outside of mainland China.
In Risk and Balance sheet management, we saw the continued
growth of our OTC clearing markets at LCH. For example in 2016,
SwapClear saw a 25% increase in clearing volumes, clearing a total
of US$666 trillion and compressing a record $384 trillion notional
risk for its members and clients. Other OTC services such as
CDSClear and ForexClear continued to grow.
LCH is also bringing its expertise of managing risk in cleared
markets to the non-cleared derivatives market with the launch of
LCH SwapAgent, a new independent calculation agent to improve the
standardisation and streamlining of bilateral OTC markets.
In Intellectual Property, FTSE Russell has built on its strong
track record in the ESG space, in the last year. It launched an
innovative new data model that tracks companies generating green
revenues and the underlying data model and new Smart Sustainability
Index were selected for the new Future World Fund.
We also acquired US-based Mergent Inc - a leading provider of
business and financial information on public and private companies
for over 100 years. The acquisition will broaden our data services,
research and analytics services and support growth.
Technology Services revenues also increased by 10% and
MillenniumIT continues to expand with projects in Singapore and
Morocco.
We continue to pursue our strategy, building our businesses
along our these three pillars of Capital Formation, Intellectual
Property and Post Trade Risk & Balance Sheet Management, all
underpinned by our world class Technology business.
The Group is strong - both financially and operationally. We
operate a full range of Open Access market infrastructure services,
at scale, around the world including in the UK, Europe, Asia and
the United States. In this regard, we are very well placed to adapt
to industry and regulatory dynamics, especially the opportunities
offered by MiFiD II, will continue to invest and are fully able to
compete globally.
In 2016 total continuing income rose to GBP1.6bn, up 17% and
adjusted operating profit also increased 17% to GBP686m. We are
proposing a final dividend of 31.2 p - a 20% year on year increase
in total dividend. In addition we have also announced plans to
initiate an on-market share buyback of GBP200m million.
Today we have also announced our Q1 results, showing a strong
start to the year. In summary, total income from continuing
operations rose by 19% to GBP459 million, reflecting good growth
across all our core business areas. In particular, we saw strong
results in OTC clearing at LCH and in our Information Services
business, with FTSE Russell delivering another good performance.
Overall, the Group's financial position remains strong and we are
well positioned to develop further.
Further information is available from:
London Stock Exchange Group plc
+44 (0)20 7797
Gavin Sullivan Media 1222
+44 (0)20 7797
Paul Froud Investor Relations 3322
This information is provided by RNS
The company news service from the London Stock Exchange
END
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