REG - TP ICAP PLC - Trading Update <Origin Href="QuoteRef">TCAPI.L</Origin>

TP IcapAnnouncement

06/01/2017 07:00

RNS Number : 4901T
TP ICAP PLC
06 January 2017
6 January 2017
TP ICAP plc 
Pre Close Statement 
TP ICAP plc (the "Company") is today issuing a trading update ahead of the close period for the year ended 31 December 2016. The figures included below are unaudited and relate to trading performance for the 12 months to 31 December 2016 for the Tullett Prebon business only. The Company expects to announce its preliminary results for the year ended 31 December 2016 on 14 March 2017. 
Business Update 
The last three months of 2016 have seen an increase in trading activity compared with the prior year. Revenue for the year ended 31 December 2016 is expected to be approximately 12% higher than the 796.0m reported in 2015, and 4% higher at constant exchange rates. 
The business has delivered revenue growth across all product lines in the fourth quarter and in particular in our traditional 'heritage' products of Interest Rate Derivatives, Fixed Income and Treasury Products. The aftermath of the US presidential election and the expectation of future interest rate rises have seen an increase in volatility and market activity, which has particularly benefitted these products. 
Our acquisition of NEX Group plc's global hybrid voice broking and information business completed on 30 December 2016 and our extensive integration plan has swiftly moved to the implementation phase. Guidance on the financial performance of the combined business will be provided together with a 2016 pro forma result for the aggregated business when we present the preliminary results in March.
Notes to Editors
TP ICAP brings together buyers and sellers in global financial, energy and commodities markets. It is the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, data & analytics and market intelligence, trusted by clients around the world. We operate from offices in 31 countries, supporting award-winning brokers with market-leading technology.
www.tpicap.com
Enquiries:
TP ICAP plc
Analysts/investors:
Sam Dobbyn, +44 (0)20 7200 7147
Sam.Dobbyn@tpicap.com
Media:
Rebecca Shelley, +44 (0)20 7200 7750
Rebecca.Shelley@tpicap.com
Brunswick Group
Kim Fletcher
Eilis Murphy
+44 (0)20 7404 5959
tpicap@brunswickgroup.com

This information is provided by RNS
The company news service from the London Stock Exchange
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