Inter-dealer broker ICAP Plc (IAP.L) reported that profit attributable to Owners of the company for the year ended 31 March 2013 fell to 43 million pounds from the prior year's 137 million, with earnings per ordinary share decreasing to 6.6 pence, from the previous year's 20.8 pence.
Profit before tax was 66 million pounds, down from 217 million pounds last year.
The Group reported an operating profit of 308 million pounds, down 17% on the prior year.
Pre-tax Profit, before acquisition and disposal costs and exceptional items, of 284 million pounds was down 20% on the prior year. Profit before tax on a statutory basis fell by 151 million pounds to 66 million pounds reflecting the decline in operating profit and the recognition of 60 million pounds of exceptional costs of which 30 million pounds was incurred in delivering the cost saving programme.
Annual revenue was 1.472 billion pounds, 12% lower than the prior year's 1.68 billion pounds. Trading activity across all asset classes was negatively impacted by a combination of factors including the depressed global economy, a low interest rate environment and regulatory uncertainty.
The company said its board has recommended a final dividend of 15.4 pence per share. The full-year dividend will be 22.0 pence, compared to 22.0 pence last year.
"The new financial year has started encouragingly with an upturn in trading activity seen in April. Market conditions, however, remain fragile and unpredictable. In the short term, this situation is unlikely to change until greater confidence in the markets is re-established and there is more clarity around regulatory reform," the company said.
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