London Stock Exchange Group Plc announced that it would execute £1 billion ($1.2billion) in buybacks for the next year. The company also increased its guidance, and revealed changes to its report structure.
In a announcement accompanying a Thursday investor event, the group stated that it now expects “mid-to-high single digit organic growth annually” over the medium term. This will accelerate in 2024, as the benefits of a partnership between Microsoft Corp. begin to be realized.
When it announces its preliminary 2023 results, the firm will outline the proposed structure for the new share buybacks. It completed a £750-million directed buyback in the first half of this year. It stated that it was on target to meet its 2023 revenue guidance of a growth rate towards the upper range of its 6% to 8% guidance range.
Market infrastructure and data provider said it would also implement new divisional reports from 2024. Data and Analytics, FTSE Russell Risk Intelligence, Capital Markets and Post Trade will be the five divisions.
LSEG purchased Refinitiv for $27 billion in 2021. This marked the beginning of a new era, where data will be the main source of revenue. Bloomberg News, the parent company of Refinitiv, competes to provide financial data and informatio
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