TP Icap has moved to bulk up its energy trading arm with a new acquisition, but the interdealer broker failed to grow revenue in its traditional voice-broking business in the four months to the end of October.

TP Icap, which facilitates trading between investment banks, has been under pressure in recent months. Former chief executive John Phizackerley was fired in July amid mounting costs at the company, while short-sellers built a £100m bet against the company’s shares last month.