The London Stock Exchange Group (LSEG) has seen its total profits recover in response to pandemic uncertainty which rocked its financial markets in the first half of 2020.

Total profit hit £2.7bn in the six months to 30 June, up from just £914m in the first half of last year when the stock market faced a wave of volatility in the early months of Covid-19.

LSEG posted a sturdier adjusted operating profit of £1.1bn – soaring past the some £457m it roped in in the same period last year.

Shares opened higher this morning, up 2.89 per cent at a total share price of 7,684.00.

The LSEG earned 146p per share, up from 89.2p per share last year as investors and businesses alike climatise to their new pandemic-era operating environments.

The group, which bought financial market data provider Refinitiv in July for $27bn in shares, is set to continue its investments in data and analytics according to its CEO.

“We continue to invest in projects that enhance our customer offering and deliver a more scalable and efficient business, particularly in Data & Analytics,” LSEG boss David Schwimmer said.

“This will support our revenue growth ambitions and lead to further operating margin improvement.”

LSEG’s data and analytics operations dominate the group’s income, as it accounted for £1.9bn in its first half – up from just £409m in 2020.

Meanwhile, the group’s capital markets pulled in £542m, over three times more than the £147m it recorded amid global market uncertainty.

Board shuffle

Group senior independent director Stephen O’Connor was also confirmed to be stepping down from the group’s board, effective immediately.

Chairman of development complex firm Landsec, Cressida Hogg, will be taking the reigns from departing O’Connor.

O’Connor, who joined the board in June 2013, is set to remain a director of the London Stock Exchange.