LSE enjoys profits rise

LONDON STOCK Exchange Group booked a rise in first-quarter revenue and profit as it was buoyed by the performance of its clearing and information units.

The group, which earlier this month named David Schwimmer as its new chief executive, posted a 13 per cent rise in income to £520m.

LSE’s clearing division, LCH, saw revenue rise 13 per cent to £118m, with the exchange’s information service posting a 11 per cent rise in sales to £201m.

Gross profit for the three months to March 31 rose 12 per cent to £464m.

Interim chief executive David Warren said: “All of our key businesses continue to perform well, with strong growth in FTSE Russell, LCH and Capital Markets.”