© Reuters. FILE PHOTO: A dealer appears to be like at a graph on his pc display screen on the dealing flooring at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson/
(Reuters) – TP ICAP (LON:) hiked its dividend payout on Tuesday after the world’s greatest inter-deal dealer reported a virtually five-fold rise in its annual revenue, underpinned by risky buying and selling in shares and overseas change and improved investor confidence.
Trading platforms reminiscent of TP ICAP, which match patrons and sellers within the monetary, power and commodity markets, noticed a revival in volumes and shopper exercise ranges final 12 months because the Ukraine battle and dangers of a recession attributable to tightening financial insurance policies stored monetary markets risky.
The firm introduced complete dividend of 12.4 pence per share, up from 9.5 pence final 12 months, and in addition noticed gross sales at its largest and most worthwhile asset class Rates enterprise rising by 11% on reported foreign money for the 12 months ended Dec. 31.
The London-listed agency reported full-year pretax revenue of 113 million kilos ($137.40 million), in contrast with a revenue of 24 million kilos final 12 months.
Analysts had anticipated pretax revenue of 108 million kilos, in response to a company-compiled consensus.
($1 = 0.8224 kilos)