NEX Group FY18 Pre-tax Profit Rises; Cuts Dividend; Sees Progress In FY19

(RTTNews) - Financial technology company NEX Group plc. (NXG.L), which is in deal to be bought by CME Group Inc. (CME), reported Tuesday that its fiscal 2018 profit before tax increased to 125 million pounds from 122 million pounds last year.

Profit attributable to owners of the company was 112 million pounds, sharply lower than 1.31 billion pounds a year earlier. The prior year results included profit from discontinuied operations of 1.15 billion pounds related to the results of NEX Exchange Limited which became a discontinued operation during the year. Group earnings per share fell to 29.3 pence from 343.7 pence last year.

Profit for the year from continuing operations was 112 million pounds or 29 pence per share, up from 100 million pounds or 26.2 pence per share a year ago.

Trading profit before tax was 127 million pounds, compared to 121 million pounds last year.

Trading earnings per share from continuing operations were 23.5 pence, compared to 24.3 pence a year ago.

Revenue increased 9% to 591 million pounds from last year's 541 million pounds. Discontinued operations include trading revenue of 1 million pounds, compared to 589 million pounds last year.

Further, the company announced final dividend of 7.65p per share, down from 27.0p per share last year. This brings full-year dividend to 11.15p per share, down from 38.5p per share last year.

Looking ahead, NEX said it expects in the year ahead to make progress on its strategy to deliver against its growth objectives and drive operational leverage.

NEX also said its shareholders voted in favor of the offer from CME for NEX.