Key facts
- LSEG reported a 6.9% increase in turnover to £4.8bn for the first half of the year.
- Pre-tax profit rose by nearly a third to £1.3bn.
- LSEG's new Pisces venue has facilitated secondary share sales for companies like Wayve and Moneybox.
- The company completed a £2.1bn share buyback and plans another £1.4bn.
- LSEG increased its dividend by 17% to 55p.
- The company is preparing to launch a 24-hour securities venue called LSE 24.
London Stock Exchange Group (LSEG) has reported a significant increase in its financial performance, with turnover rising 6.9 per cent to £4.8bn and pre-tax profit soaring by almost a third to £1.3bn in the first six months of the year. Chief executive David Schwimmer highlighted the "growing momentum" of LSEG's new private markets venue, Pisces, which has facilitated employee secondary share sales for companies like autonomous driving startup Wayve and fintech firm Moneybox.
Schwimmer stated that Pisces is "opening up significant new market opportunities." The company also announced a record £2.1bn share buyback in the first half of the year, with an additional £1.4bn planned. LSEG further increased its dividend by 17 per cent to 55p.
In addition to the success of Pisces, LSEG is preparing to launch LSE 24, a new round-the-clock securities venue aimed at boosting liquidity and attracting retail investors. This comes after LSEG, like other London tech and data stocks, experienced a sell-off earlier in the year due to investor concerns about AI firms impacting margins. However, the company has since focused on profitability and AI integration, leading to a stock increase of around five per cent year-to-date.