LSE Investor Presentation Deck
Operating expenses - looking ahead
Continuing to invest for growth, efficiency and resilience with good cost discipline
Looking Ahead
Operating Expenses
Growth
- Continued investment for growth and efficiency-will
drive depreciation
Efficiency
- £30m cost reduction previously announced Q1 2019 -
Net cost saves £17m in 2019. Expect to achieve run
rate savings of £30m by the end of 2020
Resilience
- Ongoing investment in technology
Cost discipline
- Focus on control of Operating expenses across
Group
London Stock Exchange Group
Depreciation
Expect c.£235m in 2020 (IFRS 16 Leases - 2020 impact
c.£29m)
Depreciation (£m)
135
32
2018
200
26
39
2019
Tax rate
Reported tax rate 2019: 23.7%
- Expect 22% -23% for 2020
London
Stock Exchange Group
235
29
32
2020 est
IFRS 16
Growth
Depreciation
previous year
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