LONDON, Feb 29 (Reuters) – London Stock Exchange Group (LSEG.L), opens new tab reported preliminary full year income for 2023 at the higher end of guidance, and confirmed plans to buy 1 billion pounds ($1.27 billion) in shares this year directly from Blackstone and Thomson Reuters.
“We continued our track record of broad-based growth, despite an uncertain environment, and delivered on all the targets we set at the time of the Refinitiv acquisition,” LSEG Chief Executive David Schwimmer said on Thursday.
LSEG bought Refinitiv for $27 billion from Blackstone (BX.N), opens new tab and Thomson Reuters (TRI.TO), opens new tab three years ago, turning the 300-year-old exchange into a financial market data powerhouse to compete with leader Bloomberg.
“We look forward to further progress in 2024,” Schwimmer said in a results statement.
Data now represents 70% of turnover at LSEG, which posted total income, excluding recoveries, of 8 billion pounds, up 7.8% from 2022, and at the higher end of a 6-8% forecast, and slightly above an analyst consensus forecast it provided.
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