London Stock Exchange on lost

The London Stock Exchange has posted a full-year loss of 338 million pounds ($553 million) for the year ending March 31, mainly due to a heavy charge and one-off losses related to the takeover of Borsa Italiana.

It should be noted that in the previous year the bank had made a profit of 168.3 million pounds. Revenues of the bank increased 23 percent and made 671.4 million pounds.

The full-year dividend of the company was raised to 24.4 pence per share, 2 percent increase against the previous year.

Chris Gibson-Smith, the chairman of the institution stated there was a 484 million pound goodwill write-off due to “a technical accounting adjustment reflecting the major deterioration in current economic conditions.”
He continued by saying, “indeed, the assessed value of Borsa Italiana remains comfortably above the 1.3 billion pounds value at the time of completion of the merger given the strengthening of the euro.”

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Posted by admin on May 20th, 2009 and filed under Journal. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site

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