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Inter-dealer broker TP ICAP booked a 50% rise in annual profit after it completed a merger integration programme, though it warned of an uncertain macroeconomic backdrop as the coronavirus spreads.
Pre-tax profit for the year through December increased to £93m, up from £62m on-year.
Revenue rose 4% to £1.83bn, but by a more modest 1% on a constant currency basis.
Broking revenue slipped 1% but was offset by a rise in energy and commodities, institutional services and data and analysts revenue.
The company declared a final dividend of 11.25p per share.
'These results mark an important inflexion point for TP ICAP,' chief executive Nicolas Breteau, said.
'We have completed the three-year integration programme of the ICAP business that we acquired at the end of 2016 and achieved the planned commercial and cost synergies, emerging as the world's leading inter-dealer broker.'
'The overall macroeconomic backdrop remains uncertain driven largely by Covid-19, global growth and ongoing Brexit negotiations.'
'While this environment impacts our clients' activity, the resulting volatility also creates market opportunities that gives us confidence for the future.'