LONDON (dpa-AFX) - London Stock Exchange Group Plc (LSE.L) reported higher profit in fiscal 2024, driven by a positive performance across all five divisions. The company also announced a hike in its final dividend for the year.
The company posted pre-tax profit of 1.26 billion pounds in fiscal 2024, up from 1.20 billion a year ago.
The company's annual total income, inclusive of recoveries, rose 5.7 percent to 8.86 billion pounds from 8.38 billion pounds in the prior-year. Excluding recoveries, total income climbed 6.1 percent to 8.50 billion pounds from 8.01 billion pounds in fiscal 2023.
On a basic per share basis, earnings declined 7.3 percent to 128.8 pence from 138.9 pence last year. Adjusted earnings per share, however, rose 12.2 percent to 363.5 pence from 323.9 pence in the last year.
Annual EBITDA came in at 3.95 billion pounds, up 12.3 percent from 3.51 billion recorded in the previous year. On an adjusted basis, EBITDA also rose 9.8 percent to 4.15 billion pounds from 3.78 billion pounds a year ago.
London Stock Exchange Group said, 500 million pounds share buybacks will be completed by July this year. The company also announced a final dividend of 89.0 pence per share, up 12.2 percent from last year. The dividend will be paid on May 21 to all shareholders on the share register at the record date of April 22.
Looking ahead, for fiscal 2025, the company expects organic constant currency growth in total income (excl. recoveries) between 6.5-7.5 percent. It also projects the constant currency EBITDA margin to increase by 50-100 basis points. Over the period from 2024 to 2026, the company anticipates an overall increase of approximately 250 basis points, compared to the 2023 baseline.
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