Staff of Reuters 2 minutes Read this article (Adds more detail) Reuters, LONDON, July 2 – The London Stock Exchange Group is in a healthy financial position, according to Chief Executive David Schwimmer, with the integration of the $27 billion Refinitiv data and analytics company it purchased in January on track. Schwimmer told an online investor event, “We’re in a solid financial situation.” “We remain confident in our ability to meet the financial goals we outlined when we announced the acquisition.” As integration progresses, “run rate” savings of 40 million pounds ($55 million) have been achieved, and leverage has been reduced by 4 billion pounds, he said. According to him, LSEG was continuing an investment program in Refinitiv and its terminals that was started by Blackstone, the exchange’s former owner. “Over the medium term, we have a high level of confidence that we will generate revenue growth of 4-6 percent per year in data and analytics,” Schwimmer added. When the exchange reports its results next month, the costs and capital expenditure will be adjusted. Following the Refinitiv purchase, Thomson Reuters, the parent company of Reuters News, now owns a minority position in the LSE. 1 pound Equals 0.7273 pounds Huw Jones contributed reporting, while Jane Merriman and Jan Harvey edited the piece./n
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