TP ICAP Sees 14% Jump in Q1 Revenue, Liquidnet Brings £62M

by Arnab Shome
  • Without Liquidnet’s contribution, the revenue only increased by 3 percent.
  • All the business divisions reported a gain in revenue.
icap

London-listed TP ICAP (LON: TCAP) reported on Wednesday that its group revenue jumped by 14 percent in the first three months of 2022. In absolute terms, the revenue figure came in at £556 million compared to the previous year’s £483 million.

However, the figure includes Liquidnet which turned out to be a major revenue source for the company. Liquidnet brought in £62 million in revenue in the quarter. Without Liquidnet’s contribution, the group revenue came in at £494 million, which is only 3 percent higher annually.

But, it is to be noted that TP ICAP completed the Liquidnet acquisition in the last week of March 2021. So, in that quarter last year, the subsidiary contributed only £8 million in revenue to the group.

Moreover, the latest numbers revealed the revenues generated from each business division of TP ICAP. Its global broking business generated £322 million in the three-month period, which was 3 percent higher than the first quarter of the previous year.

Its energy and commodities division brought in £107 million, which was 5 percent higher. Parameta Solutions, under which TP ICAP offers data & analytics and post-trade solutions, also generated a 5 percent increase with £44 million.

TP ICAP integrated Liquidnet services under agency execution . Without Liquidnet, this division generated £27 million that remained flat.

Strategic Progresses

Also, the company highlighted that it had made a great amount of strategic progress this year. To boost its agency execution services, TP ICAP onboarded Mark Govoni as Agency Execution CEO. His focus will be to drive Liquidnet’s growth strategy.

Meanwhile, TP ICAP witnessed an 81 percent drop in its 2021 profits to £24 million. However, the revenue of the company showed resilience and came in at £1.86 billion, which is slightly higher than the previous year.

London-listed TP ICAP (LON: TCAP) reported on Wednesday that its group revenue jumped by 14 percent in the first three months of 2022. In absolute terms, the revenue figure came in at £556 million compared to the previous year’s £483 million.

However, the figure includes Liquidnet which turned out to be a major revenue source for the company. Liquidnet brought in £62 million in revenue in the quarter. Without Liquidnet’s contribution, the group revenue came in at £494 million, which is only 3 percent higher annually.

But, it is to be noted that TP ICAP completed the Liquidnet acquisition in the last week of March 2021. So, in that quarter last year, the subsidiary contributed only £8 million in revenue to the group.

Moreover, the latest numbers revealed the revenues generated from each business division of TP ICAP. Its global broking business generated £322 million in the three-month period, which was 3 percent higher than the first quarter of the previous year.

Its energy and commodities division brought in £107 million, which was 5 percent higher. Parameta Solutions, under which TP ICAP offers data & analytics and post-trade solutions, also generated a 5 percent increase with £44 million.

TP ICAP integrated Liquidnet services under agency execution . Without Liquidnet, this division generated £27 million that remained flat.

Strategic Progresses

Also, the company highlighted that it had made a great amount of strategic progress this year. To boost its agency execution services, TP ICAP onboarded Mark Govoni as Agency Execution CEO. His focus will be to drive Liquidnet’s growth strategy.

Meanwhile, TP ICAP witnessed an 81 percent drop in its 2021 profits to £24 million. However, the revenue of the company showed resilience and came in at £1.86 billion, which is slightly higher than the previous year.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6306 Articles
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