Source: Sharecast
TP Icap said reported revenues had grown 4% to £2.35bn, helping to push EBIT 12% higher to £264m. Pre-tax profits were 7% higher at £230m, while basic earnings per share grew 14% to 25.2p each. Adjusted EBIT margins expanded 0.4 percentage points to 14.8%.
Within revenue, TP Icap said global broking revenues were up 10% on strong performance across all asset classes, while energy and commodities revenue slipped 2%, in line with expectations. Liquidnet revenue rose 4% following a record 2024, with multi‑asset agency brokerage up 10% and the equities platform holding steady year‑on‑year, while Parameta Solutions posted a 5% revenue increase, with 97% of income now coming from subscription‑based products.
The FTSE 250-listed firm also stated that group net management and support costs of £533m were down 1% year-on-year - despite inflation, UK National Insurance increases and continued investment.
As a result, TP Icap recommended a final dividend per share of 11.6p, up 3% on the prior year, taking its total full-year dividend to 16.8 pence, up 4% year-on-year. TP Icap also launched a new £80m share buyback aimed at reducing its capital base and meeting obligations under employee share schemes. The announcement follows the completion of its fifth £30m buyback.
Looking ahead, TP Icap said it has continued to benefit from "supportive market conditions" so far in the current trading year.
"We have significant US dollar earnings and at current spot rates we would anticipate a £9-10m FX headwind to our 2026 adjusted EBIT. Despite this, the board still expects the group to achieve adjusted EBIT in line with current market expectations," added TP Icap.
As of 0815 GMT, TP Icap shares were up 5.64% at 259.34p.
Reporting by Iain Gilbert at Sharecast.com