Business
Financial and Interim Management Report
Financial and Interim Management Report.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4342V\n TP ICAP PLC\n 07 August 2020\n \n \n \n 7 August 2020\n \n \n \n TP ICAP plc \n \n \n \n Financial and Interim Management Report - for the six months ended 30 June 2020 (the \"period\")\n \n \n TP ICAP plc (the \"Company\") announces its group (the \"Group\") results for the six months ended 30 June 2020 today. Commentary on year-on-year performance is on a reported and constant currency basis. Despite the unprecedented macroeconomic backdrop, characterised by the emergence of the COVID-19 pandemic, the Group took rapid and effective action to safeguard its staff and operations. In so doing, the Group delivered continuous service to its clients, essential liquidity to the markets and strong revenue growth.\n \n Nicolas Breteau, CEO of TP ICAP plc, said: \n \n \"Against the COVID-19 backdrop, our primary focus has been to protect the wellbeing of our staff and ensure continuity of service excellence for our clients. We achieved this by deploying new technology and workflows that enabled the majority of our staff to work from home while maintaining seamless, global client coverage. \n \n \n \n \n \n Despite the challenges posed by the pandemic, we have grown revenues and underlying profitability whilst advancing our strategic priorities of aggregating liquidity across our brands, increasing electronification and diversifying our revenue streams. We paid our full year dividend and have declared an interim dividend. Our performance is a testament to our operational strength, scale and diversified business portfolio, as well as the hard work and dedication of our teams. \n \n \n \n \n \n We will update the market on our strategic priorities and medium-term growth plan at our Investor Update on 8 October 2020.\"\n \n \n \n \n \n Response to COVID-19 pandemic:\n \n \n \n The Group fundamentally re-engineered its operations during lockdown to maintain continuous global client service and liquidity across all asset classes and desks. \n \n \n Tactical deployment of new digital solutions and new workflows enabled the vast majority of the Group's employees to work from home effectively. \n \n \n Re-engineering the business presented significant technological, management and regulatory challenges, coming as it did during a period of extremely high ...