Press releases 2003

15 May 2003

LONDON STOCK EXCHANGE PLC

ANNOUNCEMENT OF PRELIMINARY RESULTS
FOR THE YEAR ENDED 31 MARCH 2003

Highlights:

• Turnover up 10 per cent to £237.3 million
• Operating profit before exceptional items and goodwill amortisation up 16 per cent to £81.7 million
• Earnings per share up six per cent to 18.1 pence
• Adjusted earnings per share up 14 per cent to 20.9 pence
• Final dividend 3.0 pence per share bringing the total dividend for the year to 4.3 pence per share, up 19 per cent

Commenting on the results, Don Cruickshank, Chairman of the Exchange, said:
 
"Despite difficult market conditions, the Exchange delivered a creditable financial performance during the year, whilst strengthening its market position and diversifying its business.  At the same time, we continued to lead industry change by encouraging more competitive markets in the UK and Europe.  The Directors have recommended a 19 per cent increase in the total dividend for the year, reflecting our commitment to maximising shareholder value and our confidence in the business."
 
Clara Furse, Chief Executive, said:
 
"The breadth and quality of the Exchange's products and services were key in the delivery of a strong performance across all our business areas.  Despite the difficult environment we continue to invest in new markets in order to underpin longer term growth.  During the year we announced a number of initiatives that will enable us to develop important new markets.  These include the announcement of our new international equity derivatives business EDX London, the acquisition of software and data provider Proquote and the introduction of the covered warrants market. 

"The Exchange is well placed to deliver future growth although the year ahead will be challenging."

Download our full results announcement in Word format here.

Further information is available from:

Or visit our investor relations section.

- ends -