Net profits at Borsa Italiana rose by more than a fifth to €63.4m ($86.5m) last year, as surging revenues helped the Italian exchange group to shrug off its failure to secure a merger with one of its larger rivals.

Group reveunes rose 22% to €278.5m ($380m) last year, while profits at the Milan exchange were up 14.1% to €49.2m on the back of a 9.6% rise in revenues to €133.3m. Borsa shareholders will receive a dividend of €2.70 a share.