LONDON, Feb 29 Reuters London Stock Exchange Group reported preliminary income for 2023 at the higher end of guidance and confirmed plans to buy 1 billion pounds 1.27 billion in shares this year directly from Blackstone and Thomson Reuters.

We continued our track record of broadbased growth, despite an uncertain environment, and delivered on all the targets we set at the time of the Refinitiv acquisition, LSEG Chief Executive David Schwimmer said on Thursday.

LSEG bought Refinitiv for 27 billion from Blackstone and Thomson Reuters three years ago, turning the 300yearold exchange into a financial market data powerhouse to compete with leader Bloomberg.

We look forward to further progress in 2024, Schwimmer said in a results statement.

Data now represents 70 of turnover at LSEG, which posted total income, excluding recoveries, of 8 billion pounds, up 7.8 and at the higher end of a 68 forecast, and slightly above an analyst consensus forecast it provided.

Adjusted operating profit hit 2.86 billion pounds, in line with expectations. Earnings per share were up 1.9 at 323.9 pence but below an analysts consensus of 328.2 pence.

LSEG shares were down 2 in morning trade.

RBC analysts said headline numbers reflected healthy ongoing revenue, but operating expenses at 1 above expectations left profit figures very narrowly below consensus.

Citi analysts said in a note to clients that LSEG39;s results were mixed, with better revenue countered by heavier operating expenses…