TP ICAP Delivers Slight Increase Across All Financial Metrics for H1 2023

TP ICAP Group plc, UK-based interdealer broker and a world leading liquidity and data solutions provider, has released its financial results for the first half of 2023, unveiling a slight increase across all financial metrics.

The group revenue for H1 2023 came in at £1,132 million, up 5% from £1,080 million in H1 2022. Profit for the period was £66 million, compared to £64 million in the last same period. Profit before tax rose from £72 million to £91 million.

The company has generated EBIT of £109 million, 10% higher over £99 million in the year-ago semester. EBIT margin grew from 9.2% to 9.6%.

Basic EPS for this semester went up from 8.2p to 8.4p, with interim dividend per share up from 4.5p to 4.8p.

In addition, TP ICAP has freed up around £100 million of cash, six months ahead of schedule, which will be used to reduce debt.

In the full year of 2022, the company has generated £2,115 million revenue, which went up 13% from 2021's £1,865 million. And profit for the year stood at £103m, growing significantly of 1960% on a yearly basis.