Q2 2023 TP ICAP Group PLC Earnings Call Transcript
Good morning, everyone. Thank you for joining us both in-person and online. This is our agenda for today. I will start with a short business overview. Robin will take you through our financial performance, and the heads of our 4 divisions, Dan Fields, Andrew Polydor, Mark Govoni and Eric Sinclair, will report on their businesses. Then I will wrap up before we take your questions.
Let's begin with the headlines, where the movements are in constant currency unless I say otherwise. The group revenue increased 1% or 5% in reported currency, while contribution was up 8% or 13% on a reported basis as we focused on productivity, contribution and tight cost management. Our 2 largest business divisions are Global Broking and Energy & Commodities. Revenue in Global Broking decreased 1%, but was up 3% in reported currency against a strong comparator with exceptional volatility last year caused by the start of war in Ukraine. The revenue per broker grew 6%, with broker contribution up 24%, including Russian provisions.
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