TP ICAP (LSE:TCAP) delivered strong first-half results for 2025, with group revenue rising 9% to £1.2 billion and adjusted EBIT increasing by 10% to £184 million. The company reached record profitability levels in its Global Broking and Liquidnet segments, benefiting from increased market volatility during the period. Demonstrating capital discipline, TP ICAP initiated a £30 million share buyback program and raised its interim dividend by 8%.
A key milestone in its diversification strategy was the acquisition of Neptune Networks, positioning TP ICAP to build an integrated credit platform alongside major banking partners. The company remains focused on driving profitable growth and delivering sustainable returns to shareholders, with expectations for strong surplus cash flow in the years ahead.
The outlook is supported by positive technical indicators and corporate actions such as active share repurchases and record revenue performance. Financial stability is underpinned by prudent cash management, although EBIT margins will require ongoing attention. Valuation appears fair, complemented by an attractive dividend yield.
About TP ICAP
TP ICAP Group plc is a leading interdealer broker and market infrastructure provider, specializing in Global Broking and Liquidnet services. The firm operates across multiple asset classes, offering trading and investment solutions with a focus on broking and market data.
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