TP ICAP PLC Trading Statement (8937R)
01 Novembre 2019 - 08:00AM
UK Regulatory
TIDMTCAP
RNS Number : 8937R
TP ICAP PLC
01 November 2019
TP ICAP PLC
1 November 2019
TP ICAP plc (the "Company")
Trading Update for the three months ended 30 September 2019 (the
"Period")
Revenue:
-- 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
September
-------------------------- -----------------------
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
Alevizos.Alevizakos@tpicap.com
+44 (0) 203 933 3040
Media
William Baldwin-Charles
William.Baldwin-Charles@tpicap.com
+44 (0) 207 200 7124
About TP ICAP
-- 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.
www.tpicap.com
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 rns@lseg.com or visit www.rns.com.
END
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