London Stock Exchange posts higher profits

London Stock Exchange increased profits by almost two thirds last year despite lower revenues in its core share trading business as competition from newer rivals intensified.

The Exchange, which announced a merger with the Toronto Stock Exchange in February, posted profits of £268m (€305m), up 65%, in the year to March. One-off charges fell from £98m(€111.5m) to £58m (€66m), while underlying profits rose by 22% to £341m (€388m).