UPDATE 1-Euronext cost cuts ahead of schedule, revenue up 10 pct

jeudi 6 novembre 2014 10h49

* Says will hit 60 mln euro savings target in H1 2015

* Q3 adjusted operating profit up 20 pct

* Listings revenue up almost 18 percent

* Shares edge higher (Adds detail, share price, CEO comment)

By Clare Hutchison

LONDON, Nov 6 (Reuters) - Euronext's cost-cutting programme is running 18 months ahead of schedule, the exchange group said on Thursday as it reported a 10 percent rise in third-quarter revenue, helped by healthy listing activity.

Hit by a sharp drop in trading volumes in recent years, the company has been battling with competitors such as BATS Chi-X Europe to preserve its European market share and has focused on keeping tight control of costs.

The operator of the Paris, Amsterdam, Brussels and Lisbon bourses said that it has made savings of 30 million euros ($37.5 million) and would reach its target of 60 million euros by the first half of next year, rather than the end of 2016 as originally envisaged.

Chief Executive Dominique Cerutti said the company is looking at where further cuts could be made and will announce a new target once that process is completed.   Suite...