Interim Management StatementT For Period To 17 July 2013, Including Revenues And KPIS For The 3 Months Ended 30 June 2013 (Q1)

  • Good Group performance – revenue up 39 per cent on Q1 last year at £249.7 million, reflecting growth across all business divisions and first time addition of LCH.Clearnet; revenue up 8% on an organic, constant currency basis.
  • Information Services – revenue up 11 per cent with continued good growth from FTSE (up 8% on organic and constant currency basis).
  • Post Trade Services (excluding LCH.Clearnet) – the Group’s Italian-based operations reported revenues up by 10 per cent (up 5% on organic and constant currency basis).
  • LCH.Clearnet  – £60.7 million total income contribution (excluding unrealised loss) since the Group’s completion of the acquisition of a majority stake, effective from 1 May 2013.
  • Capital Markets – revenue up 11 per cent with growth in both primary and secondary markets (up 9% on organic and constant currency basis).
  • Technology Services – revenue up 28 per cent reflecting a strong performance from MillenniumIT (up 18% on organic and constant currency basis).
  • Ian Axe to leave his position as CEO of LCH.Clearnet Group; will remain in place to ensure an orderly transition.
  • LSEG confirmed plans to expand its custody and settlement services through establishment of a new CSD in Luxembourg; a major new customer confirms selection of LSEG for settlement, custody and asset servicing.

Commenting on performance in the past quarter, Xavier Rolet, Group Chief Executive, said:
“The Group has made a positive start to the year.  Our portfolio of complementary global brands continues to perform well and we have seen revenue growth across all of our business divisions.  In particular, we have delivered strong results from FTSE, MillenniumIT and from Capital Markets, reflecting an uplift in admissions and money raised, and improving market sentiment in secondary markets.
“We are also pleased to report the first revenue contribution from LCH.Clearnet, which showed year on year top line growth, including strong performance from the SwapClear IRS service as it continues to gain good traction.  Work is underway to drive the synergy benefits from the transaction with LCH.Clearnet.
“We remain focused on delivering benefits from recent transactions, developing opportunities and expanding our global footprint.  The Group is well placed to build on the positive start we have made so far this year”.

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