Latest Results

Trading Statement including revenues and KPIs for the three months ended 30 September 2018 (Q3)

19 October 2018

  • Good Q3 results – growth across the Group including strong performances from LCH OTC clearing and FTSE Russell
  • Q3 reported revenue up 5% and total income up 8% to £522 million; on a like-for-like basis, excluding a £9 million year-to-date accounting change impact on adoption of IFRS15 in Capital Markets, revenue would have been up 7% and total income up 9%
  • Reported revenue up 9% and total income up 10% on a nine-month year-to-date basis (including effects of IFRS 15)
  • LSEG acquiring up to a further 15.1% stake in LCH Group, expected to take majority ownership to over 80%; completion targeted by end of Q4

Q3 summary

  • Information Services:  revenues up 17% (up 9% on an organic and constant currency basis) – with reported double-digit growth at FTSE Russell
  • Post Trade:  LCH income up 15% (up 15% at constant currency), driven by 12% revenue growth in OTC clearing, with strong volumes at SwapClear and ForexClear also contributing to 49% growth in net treasury income
  • Capital Markets:  like-for-like revenues up 2% (up 2% at constant currency); adjusting for IFRS 15, Capital Markets reported revenues are 8% lower than the comparative Q3 unadjusted period in the prior year

Organic growth is calculated in respect of businesses owned for at least 9 months in either period and so excludes ISPS, The Yield Book and Citi Fixed Income Indices, MillenniumIT ESP and Exactpro. The Group’s principal foreign exchange exposure arises from translating our European based Euro and US based USD reporting businesses into Sterling.