London Stock Exchange profit rises, trading up |
| CNNMoney.com - May 22, 2008 |
The London Stock Exchange Group PLC's annual profit climbed 59 percent on record trading, but its shares dropped amid fears it will not be able to sustain that growth amid increasing competition and tough market conditions.
The LSE said Thursday it posted a 173.8 million pound ($340.5 million) for the year ending March 31, compared with 109.6 million pounds in the previous year, bolstered by its acquisition of Milan-based Borsa Italiana, Italy's principal stock exchange.
Revenue rose 56 percent to 546.4 million pounds ($1.07 billion) following the launch of TradElect, the Exchange's new trading platform, which helped boost trading volumes by more than 80 percent during the year.
Read Full Article from CNNMoney.com
- Posted: 2008-05-22 08:35:48
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