LONDON (Reuters) – London Stock Exchange Group reported full year income for 2023 at the higher end of guidance on Thursday, and confirmed plans to buy one billion pounds in shares this year directly from Blackstone and Thomson Reuters.
LSEG marks three years since it bought Refinitiv for $27 billion from Blackstone and Thomson Reuters, turning the 300-year old exchange into a financial market data powerhouse to compete more effectively with leader Bloomberg, with data now representing 70% of group turnover
“We continued our track record of broad-based growth, despite an uncertain environment, and delivered on all the targets we set at the time of the Refinitiv acquisition,” LSEG CEO David Schwimmer said in a statement.
“We look forward to further progress in 2024.”
LSEG reported total income, excluding recoveries, of 8 billion pounds, up 7.8% from 2022, and at the higher end of a 6-8% forecast, and slightly above analysts consensus provided by LSEG.
Earnings per share totalled 323.9 pence, up 1.9% on the prior year and slightly below analysts consensus of 328.2
Thomson Reuters, which owns Reuters News, has a minority shareholding in LSEG following the Refinitiv deal. LSEG also pays Reuters for news.
(Reporting by Huw Jones, editing by Sinead Cruise)
