Third-quarter total income, excluding recoveries, rose 8.8% (7.8% expected), on an organic currency neutral basis, to £2.4bn. Growth was broad-based, led by Markets and FTSE Russell which benefited from higher trading activity.
Gross profit rose at a faster pace, up 9.9% to £2.2bn (as expected), benefiting good cost control.
The group completed £0.5bn of share buybacks during the period, taking the year-to-date total to £2.6bn, with the remaining £0.8bn set to be completed by next February.
Full-year guidance has been upgraded, with total income, excluding recoveries, now expected to grow by at least 8.0%. Free cash flow is forecast to be at least £2.8bn.
The shares were up 3.7% in early trading.
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LSEG key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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