TP ICAP Group (LSE:TCAP) said it delivered record total revenue of £689 million in the first quarter, up 13% year‑on‑year, in a trading update for the three months ended 31 March.
The gains were led by Global Broking (+15%) and Energy & Commodities (+13%), with Liquidnet up 9% and Parameta Solutions up 4%; TP ICAP connects buyers and sellers in global financial, energy and commodities markets.
"The record Q1 result represents a very strong start to the year, reflecting the disciplined execution of our strategy to grow our business while maintaining strict cost discipline," the Group said.
The Board said it remains comfortable with the outlook for the remainder of the year at current FX rates, noting approximately 60% of Group revenues and 40% of Group costs are USD‑denominated, and the Group will report interim results for the six months ended 30 June on 6 August.
