The company reported higher-than-expected revenue and EBIT for H1 2023.
As a result, the company's shares surged Wednesday morning.
Shares of
the world's largest inter-dealer TP ICAP (LSE: TCAP), soared at the start of today's
(Wednesday's) session by over 16%. This is investors' response to the
better-than-expected report for H1 2023, in which the company's
revenue stood at £1.13 billion. The company also launched a new share buyback
program valued at £30 million.
TP ICAP Reports Strong
Financials in H1 2023
According
to TP ICAP's interim report for the six months ending 30 June 2023, the overall
revenue increased 1%, following a strong H1 2022, where the revenue base
grew 7%. Adjusted EBIT rose 7%, settling at £163 million compared to £153
million in H1 2022. As a result, the basic earnings per share (EPS) stood at
£0.15, above analysts' expectations as in the same period
a year earlier it reported EPS at £0.128.
The results of the entire H1 confirm that in the first quarter, when the group's total revenue was £606 million, it grew 2% year-on-year. In
addition, TP ICAP has announced an interim dividend of £0.048 per share, which
is an increase of 7% from the previous year, payable on 3 November 2023.
TP ICAP's results
"Our
focus on productivity, contribution, and tight cost management uplifted profit
and EBIT margin. Energy & Commodities delivered a strong performance as
energy markets normalized," Nicolas Breteau, the CEO of TP ICAP,
commented.
Even though
Global Broking revenue experienced a slight decrease of 1%, the Energy & Commodities
division observed notable growth of 12%.
Regarding
the future outlook, the company remains optimistic about the upcoming months.
With central banks focusing on inflation control and normalization of
energy markets, TP ICAP's Global Broking and Energy & Commodities divisions
are set to benefit.
Asset Purchase Program
Worth £30 Million
The company announced today that it is also launching a share buyback program of ordinary
shares at 25 pence each, for a maximum of £30 million. The aim is to reduce the
company's capital and meet obligations under employee share schemes. On top of that, TP ICAP released £100 million in cash to reduce its debt six months ahead of
schedule.
"The
buyback is being funded by a range of initiatives following the Jersey
re-domiciliation and cash generation. In commencing the buyback program, we
believe we have struck the appropriate balance between our continued and
substantial investment in our organic prospects," Breteau added.
In response
to strong financial results and information about the share buyback from the
market, TP ICAP reacted with a solid price increase on the London Stock
Exchange.
TP ICAP's shares jumped after the trading update. Source: Yahoo Finance
At the
start of Wednesday's session, TP ICAP shares gained over 16% and tested the frontier of £180, which is its highest price since April. For the company, this is one of the strongest
intraday movements seen in the chart over the past three years.
In addition, Swissquote, another financial company, published financial results for H1 2023 today. The total operating profit reached CHF 124.87 million, growing by more than CHF 34.2 million compared to the same period a year earlier.
Shares of
the world's largest inter-dealer TP ICAP (LSE: TCAP), soared at the start of today's
(Wednesday's) session by over 16%. This is investors' response to the
better-than-expected report for H1 2023, in which the company's
revenue stood at £1.13 billion. The company also launched a new share buyback
program valued at £30 million.
TP ICAP Reports Strong
Financials in H1 2023
According
to TP ICAP's interim report for the six months ending 30 June 2023, the overall
revenue increased 1%, following a strong H1 2022, where the revenue base
grew 7%. Adjusted EBIT rose 7%, settling at £163 million compared to £153
million in H1 2022. As a result, the basic earnings per share (EPS) stood at
£0.15, above analysts' expectations as in the same period
a year earlier it reported EPS at £0.128.
The results of the entire H1 confirm that in the first quarter, when the group's total revenue was £606 million, it grew 2% year-on-year. In
addition, TP ICAP has announced an interim dividend of £0.048 per share, which
is an increase of 7% from the previous year, payable on 3 November 2023.
TP ICAP's results
"Our
focus on productivity, contribution, and tight cost management uplifted profit
and EBIT margin. Energy & Commodities delivered a strong performance as
energy markets normalized," Nicolas Breteau, the CEO of TP ICAP,
commented.
Even though
Global Broking revenue experienced a slight decrease of 1%, the Energy & Commodities
division observed notable growth of 12%.
Regarding
the future outlook, the company remains optimistic about the upcoming months.
With central banks focusing on inflation control and normalization of
energy markets, TP ICAP's Global Broking and Energy & Commodities divisions
are set to benefit.
Asset Purchase Program
Worth £30 Million
The company announced today that it is also launching a share buyback program of ordinary
shares at 25 pence each, for a maximum of £30 million. The aim is to reduce the
company's capital and meet obligations under employee share schemes. On top of that, TP ICAP released £100 million in cash to reduce its debt six months ahead of
schedule.
"The
buyback is being funded by a range of initiatives following the Jersey
re-domiciliation and cash generation. In commencing the buyback program, we
believe we have struck the appropriate balance between our continued and
substantial investment in our organic prospects," Breteau added.
In response
to strong financial results and information about the share buyback from the
market, TP ICAP reacted with a solid price increase on the London Stock
Exchange.
TP ICAP's shares jumped after the trading update. Source: Yahoo Finance
At the
start of Wednesday's session, TP ICAP shares gained over 16% and tested the frontier of £180, which is its highest price since April. For the company, this is one of the strongest
intraday movements seen in the chart over the past three years.
In addition, Swissquote, another financial company, published financial results for H1 2023 today. The total operating profit reached CHF 124.87 million, growing by more than CHF 34.2 million compared to the same period a year earlier.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
