LME earnings down 17% in H1 as staff, lawsuit costs rise, HKEx says

The London Metal Exchange posted a 17% fall in earnings for the first half of the year, as staffing and legal expenses offset higher revenues from a rebound in trading volumes.

Earnings before interest, tax, depreciation and amortisation in the first six months of 2014 came to $317 million, said Hong Kong Exchanges and Clearing, the LME’s owner. The exchange’s Ebitda margin slumped from 63% to 49%. The exchange paid out an additional $104 million in higher costs, on items including recruitment of new staff for “infrastructure and commercialisation initiatives”, annual salary...

Published

Steel MR

August 06, 2014

07:37 GMT

Shanghai