Let's hear all about it! From Wealth Club!
London Stock Exchange Group - Another solid quarter, increasing confidence in Refinitiv merger.
Oh, okay.
'That's all right, ain't it, boss?'
Yeah.
The London Stock Exchange Group (LSE) has announced a third quarter trading update for the three months ended 30 September 2022:
Good growth across all divisions: total income up 5.9% on a constant currency basis, and up 7.0% adjusting for Ukraine and Russia conflict impact
Continued good progress on Refinitiv integration: revenue and cost synergies in line with targets
LSE remain confident in further growth - no change to guidance or targets
Fair enough. My only concern is, uh ... Charlie Huggins. 'Ha!' We all know how moody he can be.
Will he come out with some negative comment ... ???
Charlie Huggins, Head of Equities at Wealth Club, comments:
"The difficult economic backdrop doesn't seem to be impacting LSE much. This is because around three quarters of its revenue is recurring, and the products and services it provides tend to be mission-critical to customers. This makes the LSE a pretty resilient business, as these results highlight.
"High inflation is less of a problem for LSE than for most businesses, thanks to good pricing power which results in consistently solid margins. The business model is also highly scalable and capital light. This limits the need to take on more staff in order to grow, while on-going cost savings from the Refinitiv merger provide an additional efficiency lever to pull.
"The Refinitiv deal transformed LSE's data capabilities, creating a financial powerhouse to rival Bloomberg. So far, the integration seems to be progressing broadly to plan."
Right. 'He seems very positive about the whole thing, boss.' Shush, Voice! Let him finish!
"Confidence in the Refinitiv deal is growing, with every quarter of good delivery helping to quieten the sceptics. That said, it's still too early for LSE to declare victory. Refinitiv's IT infrastructure is frankly a mess, resembling a plate of tangled spaghetti. Modernizing this legacy tech estate will be a multi-year process and is far from straightforward. The acquisition also makes LSE a significantly larger, more complex business with two distinct cultures that now need to be meshed. The spate of divisional leadership changes since the deal completed speak to some of these challenges."
Christ! He's going on about that tangled spaghetti again! 'Charlie hates those IT people.' He must do!
"These risks certainly shouldn't be overlooked. However, If LSE can pull off the integration, investors could be richly rewarded."
Well, okay. Thanks, Charlie.
ENDS
ENDS
ENDS
...
Anything else? Music?
Yeah, I've got to be honest ...
Mighty Soul
Shady, Dodgy, Shifty
The Future
Life and Death
Nothing
This World Don't Mean a Thing
Lovers On The Make
Stella
Malibu
What's This Life We Live?
That's the BIG TEN.
And Rain Came Down can start the BIG TWENTY for me. In eleventh place, I mean.
Maybe my artistic crisis at the weekend was a good thing because it led to me resurrecting that old "Lovers On The Make" ballad with a new structure and some decent words/concept. I tried before writing the lyric, but I couldn't get anywhere with it. At least I know what I'm doing with the song now.
And this would be the best album -
Mighty Soul
Shady, Dodgy, Shifty
The Future
Love Me
Round The Bend
Good Times
Stella
Malibu
Nothing
Life and Death
Lovers On The Make
Oh, kooks ... you may think I've loaded the album with too many BIG TEN songs ...
It's not a problem though. I've been careful with the order of the songs. You know, different styles, structures, moods, etc. They all sound good together.
Laters!
