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June 02, 2015 8:49 AM ET

Media

Company Overview of Markit Ltd.

Company Overview

Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels. Its products and services are used for independent valuations, research, trading, and liquidity and risk assessments. The Processing division offers trade processing solutions for over-the-counter derivatives, foreign exchange, and syndicated loans. The Solutions division provides configurable enterprise software platforms, managed services, and hosted...

Ropemaker Place

4th Floor

25 Ropemaker Street

London,  EC2Y 9LY

United Kingdom

Founded in 2003

3,600 Employees

Phone:

44 20 7260 2000

Key Executives for Markit Ltd.

Markit Ltd. does not have any Key Executives recorded.

Markit Ltd. Key Developments

Markit Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Markit Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported revenue increased by $12.1 million, or 4.7%, to $271.5 million for the three months ended March 31, 2015, from $259.4 million for the three months ended March 31, 2014. Adjusted EBITDA was $120.7 million for the three months ended March 31, 2015 increased by $4.0 million, or 3.4%, from $116.7 million for the three months ended March 31, 2014. This growth was driven by the Solutions and Information segments, offset by a decrease in the Processing segment, and reflects operating performance as described above. Adjusted Earnings for the three months ended March 31, 2015, decreased $4.4 million, or 6.0%, to $68.5 million from $72.9 million for the three months ended March 31, 2014. This reflects in part an increase in the depreciation and amortisation charge for the period as well as an increase in tax period on period. The three months ended March 31, 2014 had a comparatively low adjusted effective tax rate because of the impact of a number of non-recurring items. Adjusted earnings per share, diluted for the three months ended March 31, 2015 was $0.36 compared to $0.41 for the three months ended March 31, 2014. This reflects the decrease in year-on-year adjusted earnings as well as increased dilution from a higher, post-IPO share price. Operating profit was $82.0 million against $59.8 million a year ago. Profit before income tax was $75.3 million against $55.4 million a year ago. Profit attributable to owners of the parent was $54.8 million or $0.29 per basic and diluted share against $39.8 million or $0.22 per basic and diluted share a year ago. Net cash generated from operating activities was $60.9 million against $41.4 million a year ago. Purchases of property, plant and equipment were $5.8 million against $6.6 million a year ago. Purchases of intangible assets was $34.1 million against $27.5 million a year ago.

Markit Ltd. Mulls Acquisitions

Markit Ltd. (NasdaqGS:MRKT) is seeking acquisitions. Lisa Ramey, Lance Uggla, Founder and Chief Executive Officer of Markit Ltd., said in Markit Ltd. earnings call, “We continue to review a number of acquisition opportunities across all of our divisions, as we look for complimentary businesses that will create opportunity and strengthen our position in the industry. However, we remain highly disciplined in how we deploy our capital. As you can see, we are achieving significant wins across our business that drive revenue growth in both our mature products as well as our newer initiatives. We have a strong pipeline of new business and potential acquisitions. We expect the long-term secular growth trends to continue to provide us with strong tailwinds.”

Markit Ltd. Presents at UBS Financial Services Conference, May-13-2015

Markit Ltd. Presents at UBS Financial Services Conference, May-13-2015 . Venue: Grand Hyatt New York, 109 East 42nd Street, New York, New York, United States. Speakers: Jeffrey Gooch, Chief Financial Officer, Matthew Kolby, Managing Director of Investor Relations.

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