* Revenue before exceptional items up 20 per cent to £349.6 million
* Operating profit before exceptional items up 55 per cent to £185.6 million
* Adjusted basic earnings per share up 50 per cent to 56.2 pence
* Operating profit including exceptional items up 104 per cent to £174.2 million and basic earnings per share up 82 per cent to 50.5 pence
* Cash generated from ongoing operating activities up 36 per cent to £198.6 million
* Total dividend for the year up 50 per cent to 18.0 pence per share
Operational highlights:
* Primary market activity very strong, with 503 new issues and total money raised by new and further issues up 57 per cent to £53.7 billion
* 58 per cent increase in average daily SETS bargains to 353,000, reflecting excellent growth throughout the year and new record levels of trading in the final quarter – including 508,000 average bargains/day in March
* 38 per cent increase in average daily SETS value traded to £6.5bn
* Total terminals up 12,000 to record 116,000, of which terminals attributable to professional users up 8,000 to 96,000
* On target to deliver the new trading platform, TradElect, in June 2007
Capital return:
* £512 million returned to shareholders and successful issue of £250 million 10 year corporate bond
* Excellent progress with ongoing share buyback programme, completing initial £50 million target and £60 million of further £250 million re-purchase plan
Commenting on the results, Chris Gibson-Smith, Chairman of the London Stock Exchange, said: “This has been a year of exceptional achievement, with the Exchange delivering well beyond expectations on a number of important commitments and once again highlighting the unique quality of its business.
“Trading volumes on SETS surpassed our target levels by some considerable margin and operating cost reductions were achieved. We implemented the planned £512 million return of capital to shareholders, made good progress on our share re-purchase plan, and also increased the ordinary dividend per share by 50 per cent. In delivering our strategy and creating a more appropriate capital structure, we have produced excellent returns for shareholders.”
Clara Furse, Chief Executive of the Exchange, said: “The Exchange has again delivered an outstanding performance reflecting a year of strong growth in each of our business divisions. Investment in new technology, market services, and international business development is creating value for both customers and shareholders.
“Trading remains strong with positive momentum carrying forward into the current financial year. The proven international success and increasing efficiency of our market, underline the secular change to equity trading, as TradElect goes live this summer.
“We are confident of delivering another year of strong growth, as we continue to evaluate opportunities for strategic development to realise in full our vision to be the world’s capital market.”
