A resilient performance in Icap's post-trade and electronic divisions, together with cost cuts, helped boost the world's largest interdealer broker's results during a year that group chief executive Michael Spencer described as "extraordinarily tough" for the sector.

Icap said in its full-year results statement covering the 12 months to the end of March 2013 that its total revenues fell 12% to £1.47bn for the year, while costs fell 11%. The group's operating profits fell 17% to £308m over the same period, while its full-year dividend remained flat at 22p per share. The results were slightly better than a trading statement published by Icap in March had predicted.