Business
TP ICAP Group PLC - Final Results
TP ICAP Group PLC - Final Results.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \n \n 14 March 2023\n \n \n \n \n \n \n TP ICAP Group plc\n \n \n \n \n \n \n Financial and preliminary management report for the year ended 31 December 2022\n \n \n \n \n \n \n \n \n Nicolas Breteau, CEO of the Group, said:\n \n \n \n \n \n \n \"We delivered a strong performance: high single-digit revenue growth and an increase in profitability. Significant monetary tightening in many economies benefited Rates, our largest business.\n \n \n \n \n \n Our transformation is going well. We have made good progress rolling out Fusion, our electronic platform, and are working with clients to embed it across their systems. Energy & Commodities has received FCA registration on its spot crypto assets platform and is expanding its Environmentals business. Parameta Solutions is growing its client, product and distribution base. A partnership to provide independent fair valuations of OTC derivatives - a growing market segment - is being launched today with Numerix, a global OTC analytics firm. Liquidnet is building out its Primary Markets offering, and the D2C Credit proposition is live.\n \n \n \n \n \n Capital management is an important part of our strategy. We committed to freeing up £100m of cash, and reducing debt, by the end of 2023. Progress has been good with over £30m already freed up in H2 2022. In addition, as previously announced, we continue to focus on identifying, and returning, any potential surplus capital to shareholders, subject to the ongoing assessment of our balance sheet and investment requirements. The Board is recommending a final dividend per share of 7.9 pence, which would bring the total for the year to 12.4 pence, a 31% increase.\n \n \n \n \n \n We have a clear strategic roadmap and a strong franchise. Our market-leading positions in broking, and our deep liquidity pools, mean we are well positioned as central banks continue to withdraw liquidity and interest rates remain elevated.\"\n \n \n \n \n \n \n \n \n Results for the Period\n \n \n \n \n \n \n \n Statutory results:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n £2,115m\n \n \n \n \n \n £1,865m\n \n \n \n \n \n \n \n \n \n \n \n \n \n EBIT\n \n \n \n \n \n £163m\n \n \n \n \n \n £97m\n \n \n \n...