5th Nov 2025 11:05
(Alliance News) - TP ICAP Group PLC on Wednesday said it is "comfortable" with market expectations as it reported modest sales growth in the third quarter.
The London-based financial services firm said revenue rose 3% to GBP560 million in the third quarter on-year against a record comparative period, or by 1% at constant currency.
This takes revenue for the nine months to September to GBP1.78 billion, up 7% on-year, or 5% at constant currency.
Revenue growth slowed from the 7% seen in the first half of 2025, or 9% at constant currency.
In response, shares in TP ICAP were down 5.0% at 249.00 pence each in London on Wednesday.
In the quarter, Global Broking revenue rose 7% year-on-year, continuing to capitalise on favourable market conditions across all asset classes.
Energy & Commodities revenue fell 7%, in line with the group's expectations, reflecting previously reported competition for broking talent.
"The division has a strong hiring pipeline in place, with benefits expected to materialise from 2026 onwards," the firm added.
Liquidnet revenue declined 2% compared with last year's third quarter which saw very strong growth of 28%.
Parameta Solutions revenue increased 4% and TP ICAP said it will continue to assess the appropriate timing for a potential minority US listing.
TP ICAP said it remains comfortable with full year 2025 market expectations for adjusted earnings before interest and tax, subject to foreign exchange movements, especially the USD against GBP.
Around 60% of group revenues and 40% of group costs are USD-denominated, it noted.
In 2024, the company reported adjusted Ebit of GBP324 million.
By Jeremy Cutler, Alliance News reporter
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