London Stock Exchange FY21 Profit Surges

London Stock Exchange Group plc (LSE.L) reported Thursday that its fiscal 2021 profit before tax surged to 987 million pounds from last year’s 492 million pounds. Basic earnings per share grew to 98.4 pence from 83.6 pence a year ago.

Adjusted profit before tax was 2.22 billion pounds, compared to 832 million pounds last year. Adjusted basic earnings per share were 286.5 pence, up from prior year’s 166.7 pence.

The results reflected the acquisition and consolidation of Refinitiv as of January 29, 2021.

On a pro-forma basis, assuming that the acquisition of Refinitiv took place on January 1, 2020, adjusted profit before tax was 2.30 billion pounds, compared to 1.82 billion pounds. Continuing adjusted basic earnings per share were 286.7 pence, up from 195.7 pence last year.

Pro forma adjusted EBITDA went up 8.3 percent to 3.28 billion pounds, and adjusted EBITDA margin grew to 48.2 percent from 46.3 percent a year ago.

Total income, excluding recoveries, grew to 6.42 billion pounds from last year’s 2.03 billion pounds, primarily as a result of the acquisition and consolidation of Refinitiv.

The company recorded strong revenue growth across all divisions driving 6.1 percent constant currency total income growth.

Pro forma total income, excluding recoveries, edged up 0.7 percent to 6.81 billion pounds from 6.77 billion pounds a year ago.

Further, the company proposed final dividend of 70 pence per share, a 27 percent increase in full year dividend to 95 pence per share.

Looking ahead, the company said it is confident in its outlook. The company is on course to achieve the 5-7 percent 2020-23 CAGR target.

The company also announced that Jacques Aigrain will step down from the LSEG Board on 27 April 2022, after nine years as a non-executive director.

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