LSE reports 12% profit rise

The London Stock Exchange (LSE) has reported a 12% rise in profits and will return £162m (€240m) to shareholders.

Full-year pre-tax profits rose to £89.1m (€132m), marginally ahead of analysts' expectations.

Turnover for the year ended March 31 rose 6% to £250.4m (€370m).

A special dividend of 55p (€0.81c) a share will be issued and will then be consolidated on the basis of six new shares for every seven existing shares.

The company's cash pile was boosted by the sale of its previous headquarters in London's financial district.

Trading in the first few weeks of the new financial year was the same as at the end of last year, with the number of new companies listing on its market broadly in line with last month.

However, revenues at its issuer services division will be hit by the cuts to fees it agreed to after a watchdog investigation last year, the LSE said.