By Sabela Ojea

 

London Stock Exchange Group PLC reported Tuesday a rise in revenue and gross profit for the first three months of 2020, and said that it is making good progress in planning for integration of financial-data provider Refinitiv.

The exchange operator made a gross profit for the first quarter of the year of 555 million pounds ($691.4 million) compared with GBP490 million for the same period a year earlier.

Total revenue also increased 10% to GBP535 million, the company said. It said revenue from information services grew to GBP215 million from GBP201 million in the first quarter of 2019.

London Stock Exchange said it believes it has "sufficient cash resources and access to liquidity to maintain continuity of business and has no need to materially adjust any its operations or incur significant additional costs."

"The group has delivered a good financial performance and strong operational resilience during this unprecedented period. We have had a focus on ensuring orderly functioning of markets and continuity of service to customers across our businesses," Chief Executive David Schwimmer said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

April 21, 2020 02:36 ET (06:36 GMT)

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