World Economy

LSE Posts 31% Profit

LSE Posts 31% ProfitLSE Posts 31% Profit

London Stock Exchange Group, which is in talks to merge with Deutsche Bourse to create a pan-European trading house, reported a 31% rise in full-year adjusted pre-tax profit on Friday, Reuters reported. The company, which owns Borsa Italiana and the London Stock Exchange, said discussions with Deutsche Bourse were ongoing over a potential merger which would create substantial revenue and cost benefits. Adjusted pretax profit rose to £643.4 million ($910.80 million) from £491.7 million a year earlier. Revenue rose 78% to £2.28 billion. Revenue includes both continuing and discontinued operations and excludes unrealized gains and losses for 2014 at LCH. Clearnet.