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TCAP - TP ICAP News Story

338.9p -3.5  -1.0%

Last Trade - 11:23am

Sector
Financials
Size
Mid Cap
Market Cap £1.93bn
Enterprise Value £2.04bn
Revenue £1.78bn
Position in Universe 295th / 1830

BRIEF-TP ICAP Picks Paris For European Union Hub

Tue 7th August, 2018 7:04am
Aug 7 (Reuters) - TP ICAP PLC  TCAPI.L :
    * FINANCIAL AND INTERIM MANAGEMENT REPORT
    * H1 PROFIT BEFORE TAX £34M (2017: £71M)
    * HY UNDERLYING REVENUE OF £910M (2017: £925M)
    * HY UNDERLYING PROFIT BEFORE TAX £139M (2017: £129M)
    * £13M OF SYNERGY SAVINGS ACHIEVED IN H1 TAKING CUMULATIVE
RUN
RATE TO £65M
    * HY UNDERLYING OPERATING PROFIT £155M (2017: £144M)
    * CONDITIONS IN OUR UNDERLYING GLOBAL BROKING BUSINESS
REMAIN
SUPPORTIVE FOR CONTINUED GROWTH
    * MARKET CONDITIONS AND NORMALISATION OF INTEREST RATES ARE
IMPROVING SLOWLY
    * 5.6P PER SHARE INTERIM DIVIDEND WILL BE PAID ON 9 NOVEMBER
2018
    * TP ICAP - CONDITIONS WITHIN OUR ENERGY & COMMODITIES
DIVISION
REMAIN CHALLENGING BUT FUNDAMENTALS OF OUR BUSINESS AND
COMPETITIVE POSITION ARE STRONG
    * CONTINUE TO SEE A NUMBER OF EXCITING OPPORTUNITIES IN DATA
&
ANALYTICS BUSINESS
    * EXPECTS 2018 YEAR END RESULT TO BE IN LINE WITH CURRENT
MARKET
EXPECTATIONS
    * IS IMPLEMENTING ITS PLANS TO PREPARE FOR UK'S DEPARTURE
FROM EU
IN MARCH 2019
    * HAS CHOSEN PARIS TO BE ITS EU HEADQUARTERS FROM WHERE ITS
EUROPEAN BASED BUSINESS WILL BE MANAGED AND RUN AFTER 29 MARCH
2019
    * CURRENTLY EXPECTS THAT ISWAP WILL CHOOSE AMSTERDAM AS
LOCATION
OF ITS BUSINESS AFTER 29 MARCH 2019

Source text for Eikon:  urn:newsml:reuters.com:*:nRSG9895Wa
Further company coverage:  TCAPI.L 

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