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Prices & Quotes - UK Markets - TP Icap Group (TCAP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 197.08p
Change Today:
4.28p
Market Cap:
1,554.31m
Sector:
Financial Services

TP Icap revenues drop against tough comparatives

By Michele Maatouk

Date: Wednesday 12 May 2021

LONDON (ShareCast) - (Sharecast News) - Interdealer broker TP Icap posted a decline in first-quarter revenues on Wednesday against a tough comparative period underpinned by market volatility.
In the three months to the end of March 2021, revenue fell 9% from the same period a year ago on a constant currency basis to 483m. The company noted that in March 2020, revenues had been "exceptional" amid extremely volatile market conditions caused by the emergence of the Covid-19 pandemic.

However, when compared to the first quarter of 2019, revenues were up 6%.

Revenues in the global broking segment were down 10% to 312m, driven by market-wide lower client volumes across most asset classes. Equities revenues grew "significantly", meanwhile, benefiting from higher volumes and diversification from the LCM acquisition.

Energy & Commodities revenue declined 12% to 101m. TP Icap said that like in global broking, client activity was down across all asset classes compared to the equivalent quarter last year.

Revenue in Parameta Solutions grew 11% to 42m as the business continues to benefit from strategic initiatives to launch new and higher value products, expand distribution channels and deepen and diversify its client relationships, the company said.

Chief executive officer Nicolas Breteau said: "Following the exceptional revenue performance by the group in Q1 2020 driven by extreme volatility across all asset classes, these results represent a solid performance for group in the first quarter of 2021."

The company reiterated its full-year guidance of low single-digit revenue growth on a constant currency basis, excluding Liquidnet revenues.

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TP Icap Group Market Data

Currency UK Pounds
Price 197.08p
Change Today 4.28p
52 Week High 321.22p
52 Week Low 167.56p
Volume 2,014,435
Shares Issued 788.67m
Market Cap 1,554.31m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TP Icap Group Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Apr-21 01-Oct-20
Paid 18-May-21 06-Nov-20
Amount 2.00p 5.60p

Trades for 22-Jun-2021

Time Volume / Share Price
16:25 3,796 @ 196.86p
14:53 10,160 @ 196.78p
16:35 422,171 @ 197.08p
16:29 371 @ 197.00p
16:29 427 @ 196.80p

TP Icap Group Key Personnel

CEO Nicolas Breteau
CFO Robin Stewart
Chair Richard Berliand