TP ICAP Reports Financial Results for 2020: Revenue and Operating Profits Slip

TP ICAP Group plc, a United Kingdom-based interdealer broker, has posted its full year 2020 financial results, showing a decline in its revenue and profits.

The annual revenue of the company for 2020 dropped by 2 percent year-on-year to £1.79 billion. This figure for the previous year was £1.83 billion. The adjusted operating profit fell from £279 million in 2019 by 3 percent to reach £272 million in 2020. However, the operating profit margin, for both years remained the same at 15.2 percent.

TP ICAP ended 2020 with an adjusted profit before tax of £223 million compared to the previous year's £230 million, meaning there was a year-on-year slide of 3 percent.

"2020 was a transformational year for TP ICAP," Nicolas Breteau, CEO of TP ICAP, said in a statement. "We set out a new strategy to deliver higher shareholder returns and made good progress in executing initiatives across all of our businesses to advance our strategic pillars of electronification, aggregation and diversification."