Broker TP ICAP annual profit surges on higher market volatility

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 14 (Reuters) - TP ICAP , the world's biggest inter-deal broker, reported a 370.8% surge in its annual profit on Tuesday, underpinned by volatile trading in stocks and foreign exchange and improving investor confidence. The London-listed firm, which brings together buyers and sellers in the financial, energy and commodity markets, reported full-year pretax profit of 113 million pounds ($137.40 million)for the year ended Dec. 31, compared with a profit of 24 million pounds last year.


($1 = 0.8224 pounds)
(Reporting by Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-Phillips)

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