LondonStockExGroup - AGM Statement
Annual General Meeting
Chair's statement by
We are disappointed that, as a result of the global pandemic COVID-19, we are unable to host our shareholders in person at today's Annual General Meeting. The challenges that we collectively face as a society are unprecedented and we appreciate shareholders' understanding in light of the current circumstances.
As a systemically important financial markets infrastructure business,
The Group delivered another strong performance in 2019, despite another year of macroeconomic and geo-political events that have directly influenced global financial markets. Total income rose 8% and adjusted earnings per share increased 15%. The Board is proposing a final dividend of
We have continued to invest in our business as we grow in scale, while continuing to progress financially, strategically and operationally across our core businesses of Information Services, Post Trade and Capital Markets. Our successful strategy is underpinned by the continuation of our Open Access and customer partnership approach to deliver innovative solutions across the financial markets value chain.
In our Information Services division, FTSE Russell is a key contributor to Group revenues, delivering 10% revenue growth over the course of the year. This included strong growth in subscription revenues, up 12% in 2019, reflecting new sales across a number of indices. The Group's Post Trade businesses continued to perform well. LCH delivered a strong performance with income up 14% to
Building on the results from 2019, I am pleased to share our Q1 2020 results, released this morning. Against a challenging market environment, the Group delivered a good performance in the first quarter. Total income rose 13% year-on-year to
While the Group has performed well in Q1, it is too early to comment specifically on the impact of the coronavirus pandemic on the outlook for LSEG and its customers for the remainder of the year. However, the Group believes the longer-term drivers of growth in each of its business lines remain intact.
The global transition to a more sustainable economy continues to be a focus across our industry. LSEG has many touch points with stakeholders that put us in a strong position to engage in this
discussion and we take our responsibility seriously. Our ability to help facilitate change is demonstrated through the diverse ecosystem of sustainable bonds listed on our markets with issuers from 18 different countries and bonds issued in 17 different currencies. FTSE Russell has also launched an innovative new index providing a forward-looking assessment of the climate risk faced by sovereigns, allowing investors to reduce climate risk and greenhouse gas emissions in their portfolios.
As a global company, we are committed to playing our part, building on our engagement with
The Board seeks to operate to high governance and ethical standards. The Board, along with the executive team, seeks to promote a culture of Group-wide collaboration and customer focus. LSEG has made good progress this year on these efforts. The Board has also engaged directly with employees, with candid feedback provided to Directors through a series of informal meetings, as well as more formal interaction with employee forums, which will continue in the coming year.
It was a great honour to be asked to serve as Chair of
Since becoming Chair in
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Quick facts: London Stock Exchange Group PLC
Market Cap: £29.21 billion
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