Bloomberg reports that pretax profit before exceptional items for the 12 months through March 2014 will be 'marginally ahead of the prior year' after increasing 1.5% to $221m in the first half, the company said in a statement Wednesday.
Revenue fell 1.3% to $1.17bn in the first half, while costs declined $63.7m.
'Notwithstanding the decline in revenue and the continued investment in the business, our operating margin has improved', Chief Executive Officer Michael Spencer said. 'We have made good progress despite the subdued market conditions over the summer and uncertainty created by the implementation of new financial markets regulations in the U.S'.
Statutory pretax profit dropped to $63.7m in the first half from $108.3m, following settlement payments and legal fees associated with the Libor probe.
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