LONDON (ShareCast) - (Sharecast News) - Financial services firm TP Icap reported a 14% jump in first-quarter revenues on Wednesday as the group's overall market share increased during the period.
TP Icap said group revenues were 14% to £556.0m when including the recently acquired Liquidnet business and were up 3% in constant currency when stripping out Liquidnet as it saw growth across all business divisions in Q1.

The FTSE 250-listed firm stated it had witnessed "varied market conditions" in the quarter, with higher levels of volatility and trading activity in January and the first half of March and "more subdued volumes" in February and later in March.

Global broking revenues were up 3%, energy and commodities revenue was 5% higher, agency execution revenues were 154% stronger, again to to £62.0m in revenue from Liquidnet, and TP Icap's Parameta Solutions unit saw continued double-digit revenue growth in data and analytics at 11%.

TP Icap added that it had also made "good progress" on its transformation programme, with the company's interest rate options desk now having the #2 market share, up from #4).

As of 0900 BST, TP Icap shares were up 3.96% at 118.20p.



Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE