Share Name Share Symbol Market Type Share ISIN Share Description
Tp Icap Plc LSE:TCAP London Ordinary Share GB00B1H0DZ51 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.10 1.04% 399.80 399.20 400.00 400.90 394.00 394.00 8,098 08:28:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1,763.0 23.0 5.7 70.1 2,215

TP ICAP PLC Trading Statement

01/11/2019 7:00am

UK Regulatory (RNS & others)

Tp Icap (LSE:TCAP)
Historical Stock Chart

3 Months : From Oct 2019 to Jan 2020

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RNS Number : 8937R


01 November 2019


1 November 2019

TP ICAP plc (the "Company")

Trading Update for the three months ended 30 September 2019 (the "Period")


-- Revenue growth reflected favourable market conditions in the Period.

-- Revenue in the Period of GBP478m was 17% higher than the GBP408m revenue reported for the equivalent period last year and 13% higher on a constant currency basis.

-- Year to date (January to September) revenue of GBP1,400m was 6% higher than the GBP1,318m revenue reported for the equivalent period last year and 3% higher on a constant currency basis.

Revenue by division (on a constant currency basis):

-- Global Broking revenue grew 10% in the Period relative to the equivalent period last year and was 1% lower year to date with strong performance in Rates offsetting weaker performance in Credit and Equities.

-- Energy & Commodities performance was very strong and revenue grew 24% in the Period relative to the equivalent period last year and 13% year to date as a result of selective hires and recent acquisitions, with encouraging macro conditions across the majority of our Energy & Commodities products, especially oil.

-- Institutional Services revenue grew by 38% in the Period relative to the equivalent period last year and 31% year to date as it continues to benefit from new hires and expanding its client base.

-- Data & Analytics revenue grew 9% in the Period against a strong prior year comparative period and 11% year to date as the business continues to benefit from strategic initiatives to launch new products and deepening its client relationships.

 GBPm                        Three month period to          Year to date 
                          --------------------------  ----------------------- 
 Revenues                    2019    2018     Change    2019    2018   Change 
                                                 (%)                      (%) 
 Global Broking               334     304       +10%     982     993      -1% 
 Energy & Commodities          98      79       +24%     285     252     +13% 
 Institutional Services        11       8       +38%      34      26     +31% 
 Data & Analytics              35      32        +9%      99      89     +11% 
                          -------  ------             ------  ------ 
 Constant Exchange 
  Rates                       478     423       +13%   1,400   1,360      +3% 
 Exchange Translation                (15)                       (42) 
                          -------  ------             ------  ------ 
 Reported                     478     408       +17%   1,400   1,318      +6% 
                          =======  ======             ======  ====== 

2019 full year guidance:

-- Despite a strong performance in the third quarter, our full year guidance of low single-digit revenue growth on a constant currency basis remains unchanged. We also highlight current geopolitical uncertainties which may have an impact on transaction volumes in the fourth quarter.

2019 preliminary results timetable:

-- The Company will report the preliminary results for the 2019 financial year on 10 March 2020.

Nicolas Breteau, Chief Executive Officer said:

"Today's strong trading update demonstrates that TP ICAP's trading portfolio is well placed to capitalise on volatile macro market conditions.

Separately, our ongoing investment in areas such as Energy & Commodities, Institutional Services and Data & Analytics already bears fruit and ensures a higher-growth, diversified revenue profile."

For further information:

Analysts and investors

Al Alevizakos

+44 (0) 203 933 3040


William Baldwin-Charles

+44 (0) 207 200 7124


-- TP ICAP brings together buyers and sellers in global financial, energy and commodities markets.

-- It is the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, data & analytics and market intelligence, trusted by clients around the world.

-- We operate from offices in 31 countries, supporting award-winning brokers with market-leading technology.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit



(END) Dow Jones Newswires

November 01, 2019 03:00 ET (07:00 GMT)

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