6th Aug 2026 13:19
(Alliance News) - TP ICAP Group PLC on Thursday announced a new share buyback and reiterated its full-year guidance, in light of profit and revenue growth in the first half of 2026.
Despite this, shares in TP ICAP fell 7.0% to 321.20p each in London on Thursday.
The London-based interdealer broker said pretax profit rose 10% to GBP135 million in the six months ended June 30 from GBP123 million the year prior.
Adjusted earnings before interest and tax grew to GBP196 million from GBP184 million at a margin of 15.2% versus 15.0% a year ago.
Revenue picked up 5.7% to GBP1.29 billion from GBP1.22 billion, or by 8% at constant currency.
At constant currency, Global Broking revenue rose 11% with growth across all asset classes.
Energy & Commodities revenue edged up 2% with a particularly strong first quarter offset by a sharp reduction in oil futures volumes in the second, following disruption to physical oil flows.
Liquidnet revenue was 1% higher with growth in the equities platform balanced by more muted multi-asset agency brokerage activity.
Parameta Solutions revenue climbed 6% with continued commercial momentum.
Basic earnings per share rose 6.7% to 14.3 pence from 13.4p.
The dividend was boosted 7.7% to 5.6p per share from 5.2p.
In addition, the FTSE 250-listed company announced a new GBP30 million share buyback which it said reflected "the strength of our business." This follows the completion of its sixth buyback programme of GBP80 million.
Looking ahead, TP ICAP said it remains "confident in the outlook for 2026, and the board expects to achieve adjusted Ebit in line with current market expectations, subject to foreign exchange movements."
By Jeremy Cutler, Alliance News reporter
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