TP Group PLC announce a final dividend of 7.9pence per share

DividendMax Ltd.

TP Group PLC announce a final dividend of 7.9pence per share

The TP Group PLC Board recommends a final dividend per share of 7.9 pence, bringing the total full year dividend to 12.4 pence per share, up 31% (2021: 9.5 pence per share), in line with their policy. The policy targets dividend cover of c.2x on adjusted post-tax earnings: a 50% pay-out ratio for the year.

Other financial highlights:

Group revenue up 7% (+13% in reported currency);

Global Broking (GB) revenue increased 7%. All asset classes delivered high single digit growth. Higher margin Rates business performing well;

GB productivity up: revenue per broker increased 14%. Market share up, underlining leadership position;

Energy & Commodities (E&C) revenue declined 2% - in line with exchange volumes. European Gas & Power: most challenging market conditions for some time;

Parameta Solutions revenue up 8%; New partnerships launched: partnership with Numerix announced today;

Liquidnet division revenue up 18%, reflecting 12-month contribution in 2022 from acquired Liquidnet platform (completed in March 2021). Like-for-like revenue for Liquidnet platform declined, reflecting difficult and volatile equity market conditions for block trading, and global commission wallet lowest since early 2009.

Increased profitability

Adjusted EBIT up 8% to £275m (2021: £255m), driven by strong Rates performance. Increased 18% in reported currency;

Reported EBIT increased 68% (in reported currency) to £163m (2021: £97m);

Adjusted EBIT margin, prior to Russian P&L charges of £21m, increased to 14.0% (2021: 12.9%). Including Russian impact: 13.0%.

Companies mentioned