LSE reports bumper profits

The London Stock Exchange Group's share price has jumped 3.6% this morning after announcing its income in the half year to September rose by 20% compared to the equivalent period of 2010.

Total revenues were £386.5m, yielding profits of £179.7m, up an impressive 79%.

The group, which is in talks to buy the clearing house LCH Clearnet, says earnings per share rose 48% to 47.6p, while it will increase its interim dividend from 8.8p per share to 9.3p.

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Most investors in the UK will naturally associate the group with the London Stock Exchange although it also owns the Borsa Italia in Milan and provides data services from operations in Sri Lanka.

Commenting on today's results the LSE's chief executive Xavier Rolet said: ""Our balanced and diversified business, with a well-hedged, inversely-correlated portfolio of products and services, makes us strongly placed to take advantage of growth opportunities that the changing market and regulatory environment is presenting."

BS