By Michael Susin
TP ICAP launched a share buyback program after profit rose, and said its plan to list Parameta Solutions in the U.S. is progressing.
The interdealer brokerage said pretax profit rose to 214 million pounds ($275.6 million) in 2024 from 96 million pounds a year earlier. On an adjusted basis--which strips out exceptional and other one-off items--pretax profit increased 12% to 303 million pounds, while reported currency revenue increased 3% to 2.25 billion pounds.
Adjusted earnings before interest and taxes increased by 12% to 324 million pounds, the company said Tuesday.
The company said that it is progressing with its plans to list Parameta Solutions in the U.S., which is expected as early as in the second quarter. TP, which will keep a majority stake, expects the listing to provide Parameta with a greater ability to grow on a standalone basis.
Meanwhile, the London-listed company launched a fourth share buyback program of up to 30 million pounds, starting immediately.
TP said it is comfortable with current market expectations for 2025 adjusted EBIT, without disclosing any figures. According to estimates provided by LSEG Refinitiv, adjusted EBIT is expected at 295.85 million pounds this year.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
By Michael Susin
TP ICAP launched a share buyback program after profit rose, and said its plan to list Parameta Solutions in the U.S. is progressing.
The interdealer brokerage said pretax profit rose to 214 million pounds ($275.6 million) in 2024 from 96 million pounds a year earlier. On an adjusted basis--which strips out exceptional and other one-off items--pretax profit increased 12% to 303 million pounds, while reported currency revenue increased 3% to 2.25 billion pounds.
Adjusted earnings before interest and taxes increased by 12% to 324 million pounds, the company said Tuesday.
The company said that it is progressing with its plans to list Parameta Solutions in the U.S., with the listing expected as early as in the second quarter. TP, which will keep a majority stake, expects the listing to provide Parameta with a greater ability to grow on a standalone basis.
Meanwhile, the London-listed company launched a fourth share buyback program of up to 30 million pounds, starting immediately.
TP said it is comfortable with current market expectations for 2025 adjusted EBIT. According to the company-provided market expectations, adjusted EBIT is estimated to rise to 345 million pounds.
Shares are down 1.35% at 70.75 pence.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 11, 2025 06:10 ET (10:10 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。