London Stock Exchange 2004 profits rise

The London Stock Exchange (LSE) reported a rise in full-year profit and turnover today.

The London Stock Exchange (LSE) reported a rise in full-year profit and turnover today.

The LSE said pre-tax profit for the year to March 31st rose to £89.1 million, up from £88.8 million in the previous year.

Analysts had forecast pre-tax profit before amortisation and exceptional charges of about £88.6 million.

Turnover for the year climbed as volumes on its SETS electronic order book system continued to rise.

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The LSE said that the number of companies listing on its main and junior markets remained buoyant, though turnover at this division fell 9 per cent as it took a hit from the introduction of the lower fees it can charge following a watchdog investigation.

Europe's biggest share market, in tie-up talks with rival Euronext, said that although it was still waiting on the Competition Commission's review on possible bid approaches it remained focused on its operational performance.

In March, Frankfurt rival Deutsche Boerse scrapped a £1.3 billion proposal to buy the LSE, leaving Euronext as the LSE's most likely suitor.