FTSE business boosts first quarter revenue growth at LSE

A strong performance at its FTSE information services arm boosted revenues at the London Stock Exchange Group (LSE) at the start of the year.

The exchange operator and financial data provider saw revenues increase by 86% to reach £581m in the first quarter, following the purchase of Russell Indexes and Rusell Investment Management. Income was boosted in a similar proportion, rising by 79% to hit £602.5m.

Excluding Russell Investment Management, income increased 6%.

The information services unit saw sales improve by 5% on an organic and constant currency basis, with its FTSE unit putting in a strong performance, with revenues up by 12%.

Capital markets revenues grew by 2%.

The integration of Russell Indexes is “making excellent” progress, the company said in a regulatory statement.

In parallel, the sale of Russell Investment Management is on track, with a good number of indications of interest received.

Regarding the outlook for the business, LSE said: The Group has made a good start to the year and is well placed to deliver benefits from continued positive market trends and from the work to develop further revenue and efficiency opportunities. We remain confident that the Group will continue to develop and grow.