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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。