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Last Updated: Wednesday, 16 May 2007, 09:07 GMT 10:07 UK
LSE hails 'outstanding' results
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The LSE has fought off several takeover approaches
The London Stock Exchange (LSE) has reported forecast-beating annual profits on the back of strong trading volumes and reduced costs.

Pre-tax profits for the year to 31 March jumped 73% to �161.5m ($320.7m), while operating profits rose by a better-than-expected 55% to �185.6m.

LSE chief executive Clara Furse said it was an "outstanding performance" and added that trading remained strong.

The LSE has fended off four bid approaches in the past two years.

Trading remains strong with positive momentum carrying forward into the current financial year
Clara Furse, London Stock Exchange chief executive

Most recently, in February the LSE saw off a hostile bid approach from the US exchange Nasdaq, describing the US suitor's 1,243 pence-per-share offer as "wholly inadequate".

The LSE's shares closed 19 pence or 1.5% higher in London at 1,311p.

The LSE said that it enjoyed strong activity on its main market during the past year, with 503 new issues and the total amount of money raised by new and further issues up 57% to �53.7bn.

The number of trades on its electronic order book, SETS, rose 58% to 353,000 a day.

"Trading remains strong with positive momentum carrying forward into the current financial year," Ms Furse said.


SEE ALSO
LSE woos Tokyo after US bid fails
11 Feb 07 |  Business
Nasdaq deadline nears in LSE bid
09 Feb 07 |  Business
US and Tokyo markets move closer
31 Jan 07 |  Business
Nasdaq attacks LSE's bid stance
23 Jan 07 |  Business
LSE strengthens takeover defence
18 Jan 07 |  Business
Nasdaq struggles for LSE shares
11 Jan 07 |  Business

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