TP ICAP plc reported unaudited consolidated earnings results for the year ended December 31, 2016. For the period, the company reported revenue of £891.5 million, operating profit of £73.3 million, profit before tax was £56.8 million, earnings were £43.2 million or 17.8 pence basic earnings per share against revenue of £796 million, operating profit of £121.9 million, profit before tax was £105.7 million, earnings were £82.9 million or 34 pence basic earnings per share a year ago. Underlying operating profit was £131.5 million against £107.9 million a year ago. EBITDA was £152.4 million against £125.1 million a year ago. Capital expenditure (net of disposals) was £17.5 million against £13.9 million a year ago. Underlying operating cash flow was £129.5 million against £123.9 million a year ago. Cash flows from operating activities was £58.6 million against £144 million a year ago. Purchase of property, plant and equipment was £2.8 million against £4.6 million a year ago. Expenditure on intangible fixed assets was £14.7 million against £9.3 million a year ago. The growth was driven by an 11% increase in revenue in TP ICAP's Energy & Commodities unit to GBP 245.3 million from GBP 221.9 million.

For 2017, the company expects effective rate of tax on underlying group profit before tax to increase to around 26%.