April 26, 2017 / 6:45 AM / 6 months ago

London Stock Exchange's quarterly profit rises

April 26 (Reuters) - London Stock Exchange Group reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly, and said it is exploring investments to drive growth after the collapse of its proposed Deutsche Boerse merger.

LSE, which owns Borsa Italiana and the London Stock Exchange, said on Wednesday it was still actively engaged in exploring “selective ongoing” organic growth and inorganic investments.

Boosted also by the weak sterling, total income from continuing operations rose 19 percent to 458.7 million pounds ($588.8 million) in the quarter ended March 31, while comparable revenue was up 18 percent at 420.6 million pounds.

Analysts on an average had expected income of 448.5 million pounds and revenue of 411.6 million pounds, according to a company-compiled consensus.

“The group has made a strong start to the year... We continue to be actively engaged in exploring selective ongoing organic and inorganic investments in order to drive further growth,” Chief Executive Xavier Rolet said in a statement.

Last month, European Union regulators blocked the 29 billion euro merger between LSE and Deutsche Boerse, citing concerns over a potential monopoly in the processing of bond trades, formally ending a deal that unravelled in the wake of the Brexit vote. ($1 = 0.7791 pounds) (Reporting by Esha Vaish in Bengaluru; editing by Alexander Smith and Louise Heavens)

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