TP ICAP sees 81% fall in 2021 profits, its revenue remains resilient

Inter-deal broker TP ICAP has released its financial results for 2021. The profit for the year fell 81.4% at £24 million, compared to the previous year’s £129 million.

The basic earnings per share of TP ICAP fell to 0.7 pence from 15.4 pence in 2020.

However, the broker’s revenue of the twelve months showed resilience as it stood at £1.86 billion, nearly 4% higher than 2020’s £1.79 billion. Liquidnet brought in in £159 million in revenue for the company following its acquisition, finalised in March 2021.

Excluding Liquidnet’s revenue of £159 million, the Group’s revenue was 1% lower than the prior year, in line with guidance.


Nicolas Breteau, the CEO of TP ICAP said:

Nicolas Breteau, TP ICAP

Nicolas Breteau

Our performance naturally reflects the unusually quiet secondary markets that we experienced in 2021, particularly in the first half of the year. However, as market conditions started to improve in the second half, TP ICAP recovered most of the ground and grew overall market share.

Total Group revenue for last year as partly offset by marginal revenue declines in Global Broking, dwon by 2%. Diversified, non-Global Broking, was 42% of its total revenue in 2021.

Data and analytics business within Parameta Solutions, launched in April 2021, grew by 10% last year.

Breteau added:

Market volatility has continued at more elevated levels in 2022, with the return of inflation and geopolitical uncertainty driving higher volumes across many of our markets. Our revenue in the year to date until 11 March 2022 was approximately 16% higher than the corresponding period in 2021, in constant currency, or 4% higher excluding Liquidnet. While it is too early to judge whether this activity will be sustained, we believe the results of our many actions will show through in improved performance across the group in 2022 and beyond.

Read Also: