Icap’s electronic broking and post-trade businesses accounted for more than half of the company’s operating profits in its full-year results for the first time, in a clear sign that the interdealer broker’s long-term strategy to diversify away from traditional voice broking is making headway.

The UK-listed firm this morning reported that its operating profits increased 6% to £375m for the year to 31 March 2011, with its electronic broking and post-trade services units accounting for 54% of this figure. Overall, the group reported an 8% year-on-year increase in revenues to £1.7bn, although a 6% fall in pretax profits from £247m to £233m.