Plus   Neg

TP ICAP 2018 Pre-tax Profit Down

TP ICAP Plc. (TCAP.L) reported that its profit before tax for fiscal year 2018 declined to 62 million pounds from 72 million pounds in 2017.

Statutory profit after tax of 23 million pounds was lower than the 75 million pounds reported in 2017. Statutory profit after tax in 2018 included a 65 million pounds impairment of goodwill.

Statutory operating profit of 93 million pounds was 9% lower than in 2017. Statutory operating profit is after exceptional and integration, acquisition and disposal related items. Statutory earnings per share of 5.7 pence were 10.1 pence lower than in 2017, reflecting the impact of the 65 million pounds impairment of goodwill.

Underlying earnings per share for 2018 of 34.2 pence were 0.9 pence higher than for 2017.

Total revenue of 1.763 billion pounds in 2018 was 3% higher than 2017 at constant exchange rates, and in line as reported.

The Board declared an interim dividend of 5.6 pence per share paid on 9 November 2018 and is recommending a final dividend of 11.25 pence per share to be paid on 21 May 2019 (with a record date of 5 April 2019).

The Group's dividend policy is to maintain a full year dividend of 16.85 pence throughout the integration period.

Further to previous announcement dated 14 December 2018 in relation to Richard Berliand's intention to join the Board of TP ICAP plc as a Non-executive Director and Chairman designate during the first quarter of 2019, the Company confirmed Berliand's appointment as a Non-Executive Director and Chairman designate with immediate effect. As previously advised, Mr Berliand will become Chairman at the conclusion of the Annual General Meeting of the Company to be held on 15 May 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Consumer Electronics Show have announced that it will allow sex toys to be exhibited on the floor as well as win awards next year. The organizers said CES 2020 will include tech-based sexual products on a one-year trial basis as part of the Health & Wellness product category or in the Health &... eBay Inc. (EBAY) Wednesday reported a second-quarter profit that trumped Wall Street analysts' estimates, as did revenues. Moving ahead, the company lowered its full-year revenue outlook, but lifted its earnings estimates, sending shares up nearly 5% in extended trading session. eBay's second-quarter... Shares of Netflix Inc. (NFLX) tanked 12% in extended trading session Wednesday after the online-video streaming giant reported a weak global subscriber additions, with U.S. subscribers dropping for the first-time ever. Netflix added 2.70 million subscribers globally in the quarter, far below its forecast...