LONDON (dpa-AFX) - TP ICAP Group plc (IAPLF.PK, IAPLY.PK, IAP.L, TCAP.L), on Tuesday, issued trading update for the nine months ended 30 September 2022, and reported 9-month revenue growth of 10%, reflecting favourable market conditions in Global Broking, particularly in Rates, our largest, and most profitable, asset class.
Total Group revenue was £1.588 billion in the first nine months of 2022, an increase of 10%, compared with the same period in 2021. Revenue was up 15% in reported currency.
The company stated that the ongoing strengthening of the US Dollar has been a meaningful tailwind: about 60% of the Group's revenue and about 40% of costs) are US Dollar denominated. Excluding Liquidnet, completed on 23 March 2021, revenue increased by 7%.
The Group, as a whole, continues to trade in line with the Board's expectations.
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