1307 GMT - TP ICAP reported 2024 earnings ahead of expectations, with record profitability levels driven by robust revenue growth, tight cost control and improved performance from Liquidnet, Peel Hunt analysts say in a note. The interdealer brokerage reported an adjusted pretax profit of 303 million pounds, beating both Peel Hunt's forecast of 295 million pounds and market consensus of 296 million pounds, the analysts say. Added to that, the company's focus on cash generation is bearing fruit, with operational cash generation well ahead of profitability, they say. This is reflected on a robust balance sheet, which has allowed another share buy back, the analysts say. Shares are down 1.35%, but up nearly 40% over the last 52 weeks. (michael.susin@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 09:07 ET (13:07 GMT)
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