Wednesday, November 25, 2009

LSE first-half net profit drops 40 percent

The London Stock Exchange PLC posted a 40 percent drop in first-half earnings on Wednesday on the back of lower trading and warned that market conditions remain uncertain.

The bourse reported net profit of 49.3 million pounds ($82.4 million) for the six months ended Sept. 30, down from 81.7 million pounds a year ago.

Revenues fell 9 percent to 310.9 million pounds, from 342.5 million pounds, as the exchange was also hit by increased competition.

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