Private wealth management firms told of London Stock Exchange performance

Private wealth management companies have been told the financial results ended March 31st 2010 for the London Stock Exchange Group.

Organisations on the group’s markets raised £77 billion, the second highest since a record £106 billion was raised last year.

Total dividend for the year stayed at 24.4 pence per share, while a 20 per cent increase in admission fee income was noted.

Despite these successes, the London Stock Exchange Group saw a fall in total income from 2009 to stand at £628.3 million.

Adjusted operating profit was £280.3 million was made, a drop from last year’s £340.7 million.

However, private wealth management firms were reassured by Chris Gibson-Smith, chairman of the group, who said: ’We continue to take steps to ensure the business remains central to capital markets, competing for business as an efficient, low cost and client focused organisation with a clear strategy to deliver growth and value.’

The London Stock Exchange currently has approximately 3,000 companies trading on its markets.ADNFCR-2318-ID-19795016-ADNFCR