Si era parlato del loro bond qualche settimana fa
ICAP Tumbles After Broker Lowers Full-Year Outlook (Correct)
2010-02-05 08:26:10.294 GMT
(Corrects forecast range in second paragraph.)
By John Glover
Feb. 5 (Bloomberg) -- ICAP Plc plunged after the world’s
largest broker of transactions between banks lowered its outlook
for full-year profit, saying new businesses are taking longer
than anticipated to become profitable.
Pretax profit, ICAP’s preferred measure of performance, for
the year ending March 31 will be between 295 million pounds
($464 million) and 315 million pounds, down from the previous
forecast of 309 million pounds to 354 million pounds, the
London-based company said in a statement today.
“Our established businesses continue to perform well in
these challenging markets although some of our newer businesses
are taking longer to achieve profitability,” Chief Executive
Officer Michael Spencer said in the statement. “We expect to be
able to take advantage of the likely restructuring of the
financial markets post crisis and remain positive about the
medium-term outlook for the business.”
ICAP fell as much 18 percent to 300.1 pence in London, the
biggest drop since September 2008. The shares were at 303.2 at
8:15 a.m., valuing the company at 2 billion pounds.
ICAP’s newer businesses posted “mixed” results, the
broker said. Its Brazilian unit had “very good” revenue growth
in the last quarter of 2009 and its London Metal Exchange
business performed well. Trading volumes fell at its shipping
and cash equity operations.
ICAP also said it agreed to buy the shares it doesn’t
already own in TriOptima AB, which automates post-trade
services, for an initial 109 million euros ($150 million). ICAP
will also pay another 12 million euros to supply working
capital, it said.
