(reuters) – london stock exchange group (lse) announced monday, is expected to increase gross margins and reduced its costs by 2019, despite the failure of its proposed merger with deutsche börse and uncertainty as to the brexit.
the operator of the london stock exchange provides a profit margin before interest, taxes, depreciation and amortization (ebitda) of approximately 55% by 2019, 46.5% last year, according to a press release.
the optimistic forecast is in the adverse environment for the operator. the attempt to merge the deutsche börse, in order to better compete with players like intercontinental exchange, fell in march to the opposition of the european commission and the german political leaders who were the seat of the new package is in great britain.
the lost of the british prime minister, theresa may in parliamentary elections has also raised concerns about the procedures for the release of great britain in the european union.
lse has said it wants to reduce its costs of gbp 50 million (eur 56.5 million) per year until 2019, and maintain stable and 4% increase in the course of its operating expenses.
the action of the group back to 0.69% in 3.430 pence to 13:20 gmt on the london stock exchange, sub efficient financial sector index ftse 350, which fell by 0.28 per cent.
(noor hussain to reach bangalore, claude chendjou for service in french, edited by veronica poker)
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Translated by forexguides.info Team