Strategic and Operational Highlights
Completion of the acquisition of ICAP's Global Broking and Information Business ('ICAP')
Planning and commencement of the integration
Reorganisation into new global product areas
Energy and Commodities revenues 28% of Group total
New rigorous approach to client relationship management
New product launches in our data and analytics business
Ongoing focus on conduct and culture in all that we do
Financial Highlights
Underlying, before exceptional items and acquisition, disposal and integration costs
Revenue £891.5m (2015: £796.0m)
Operating profit £131.5m (2015: £107.9m)
Operating margin 14.8% (2015: 13.6%)
Profit before tax £121.6m (2015: £93.7m)
Basic EPS 42.5p (2015: 32.2p)
Reported, after exceptional items and acquisition, disposal and integration costs (which reflect the fees and expenses of the ICAP acquisition)
Operating profit £73.3m (2015: £121.9m)
Operating margin 8.2% (2015: 15.3%)
Profit before tax £56.8m (2015: £105.7m)
Basic EPS 17.8p (2015: 34.0p)
A table showing Underlying and Reported figures for each year, detailing the exceptional items and acquisition, disposal and integration costs, is included in the Financial Review.
The average number of shares used for the EPS calculation for 2016 is 242.3m (2015: 243.6m).
Dividend
The Board declared a first interim dividend of 5.6p per share paid on 14 November 2016 and a second interim dividend of 11.25p per share paid on 13 January 2017 (with a record date of 23 December 2016), before the completion of the acquisition of ICAP. The Board is accordingly not recommending a final dividend and so, as advised in our interim announcement on 3 August 2016, the shareholders up to the date of completion of the acquisition of ICAP have received dividends of 16.85p per share for 2016. The Board expects to declare its next interim dividend payable in November 2017 when the 2017 interim announcement is made in August.
