2020 H1 Summary

Interim results for the 6 months ended 30 June 2020

31 July 2020

Unless otherwise stated, all figures below refer to continuing operations for the six months ended 30 June 2020. Comparative figures are for continuing operations for the six months ended 30 June 2019

 Six months ended 

30 June

Organic

and

 constant

currency


2020

2019

Variance

Variance1

Continuing operations

£m

£m

%

%

Revenue

 

Information Services

437

416

5%

3%

Post Trade

372

342

9%

8%

Capital Markets

217

226

(4%)

(4%)

Technology

30

30

-

-

Other revenue

2

4

-

-

Total revenue

1,058

1,018

4%

3%

Net treasury income through CCP business:

176

120

47%

46%

Other income

1

2

-

-

Total income

1,235

1,140

8%

8%

Cost of Sales

(121)

(109)

11%

10%

Gross profit

1,114

1,031

8%

7%

Adjusted operating expenses before depreciation, amortisation and impairment

(438)

(406)

8%

5%

Underlying depreciation, amortisation and impairment

(99)

(88)

13%

13%

Adjusted operating expenses2

(537)

(494)

9%

6%

Share of loss after tax of associate

(2)

(4)

-

-

Adjusted operating profit2

575

533

8%

9%

Add back underlying depreciation, amortisation and impairment

99

88

13%

13%

Adjusted earnings before interest, tax, depreciation, amortisation and impairment2

674

621

9%

9%

Amortisation and impairment of purchased intangible assets and non-underlying items3

(184)

(134)

38%

37%

Operating profit

394

399

(2%)

(1%)

 

 

 

Earnings per share

Basic earnings per share (p)

64.6

70.7

(9%)

Adjusted basic earnings per share (p)2

112.0

100.6

11%

Dividend per share (p)

23.3

20.1

16%

The Group’s principal foreign exchange exposure arises from translating and revaluing its foreign currency earnings, assets and liabilities into LSEG’s reporting currency of Sterling.

1Organic growth is calculated in respect of businesses owned for at least 6 months in either period and so excludes Beyond Ratings

2Before amortisation and impairment of purchased intangible assets and goodwill and non-underlying items

3Includes transaction costs and restructuring costs

Note: Variances in all tables are calculated from unrounded numbers.