Nicolas Breteau, Group CEO, said:
"We delivered a strong first half. Group revenue increased by 9% to £1.2bn - a record level of growth - while Group adjusted EBIT rose by 10% to £184m. Our market-leading Global Broking and Liquidnet franchises achieved all-time high levels of profitability, with adjusted EBIT up 19% and 38% respectively, as we supported clients in navigating a period of heightened market volatility.
"Capital discipline remains a key priority. We are launching another £30m buyback, our fifth in 24 months, and increasing our interim dividend by 8% to 5.2p. Furthermore, based on our current outlook, and in line with our capital allocation framework, the Group anticipates it can organically generate in excess of £200m across 2026 and 2027, to be made available for investment in the business and shareholder returns over the same period.
"Turning to Parameta Solutions, as previously announced, our focus is on a listing in the United States with the Group maintaining a majority stake. The Board is keeping under review appropriate timing for any potential listing and will update shareholders in due course. Were the listing to proceed, the Group would expect to return most of the proceeds to shareholders.
"In the half year, we also completed the acquisition of Neptune Networks, a key milestone in our diversification strategy. In partnership with nine major banks, we are drawing on the complementary strengths of the Neptune and Liquidnet Fixed Income platforms to create a full-service credit platform, which will offer superior data, liquidity, and value, benefitting all market participants.
"We continue to look to the future with confidence. Our strategy - centred on transformation, diversification, and dynamic capital management - is delivering results. We remain committed to profitable growth, investing in our business, and generating sustainable returns for our shareholders."
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