TP ICAP, an inter-deal broker, has unveiled its financial report for the year 2022, showing a 13.5% (7% in constant currency) growth in revenue, amounting to a total of £2.1 billion.
CEO of TP ICAP, Nicolas Breteau, said:
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.
In the past year, TP ICAP witnessed a noticeable upturn in basic earnings per share, which rose from 0.7 pence in 2021 to 13.2 pence. The adjusted EPS was even higher, increasing from 19.5 pence to 24.9 pence.
The board has proposed a dividend of 12.4 pence per share, which translates to a 31% year-over-year increase. In terms of revenue, the global broking arm saw a 13% increase on a reported basis and 7% on a constant currency basis, amounting to £1.25 billion.
Of that sum, £302 million was generated from FX and money market products. The energies and commodities units saw a 5% increase in revenue on a reported basis, although it decreased by 2% on a constant currency basis. Parameta Solutions reported a 19% growth in revenue.
Lastly, Liquidnet, which was acquired by TP ICAP in 2021, had a 25% and 18% increase in revenue on a reported and constant currency basis, respectively, totaling £325 million.
He added:
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.
