ICAP raises guidance after headcount cull

Inter-dealer broker ICAP is to prune back staffing levels in less profitable areas of the business, as a result of which pre-tax profits for the year to the end of March will be at the upper end of the current range of analyst forecasts.

Inter-dealer broker ICAP is to prune back staffing levels in less profitable areas of the business, as a result of which pre-tax profits for the year to the end of March will be at the upper end of the current range of analyst forecasts.

Analysts' forecasts of pre-tax profits currently range from £336m to £358m.

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