Tullet Prebon Trading Update Highlights Positive Performance

In a statement issued today, Tullet Prebon reveals solid financial metrics for the company ahead of its Annual General Meeting.

Tullett Prebon plc (LON:TLPR) has published a trading statement in relation to the four month period from 1 January 2016. The statement reported that the company had seen an increase in revenue for the quarter, amid mixed trading conditions, and followed its positive 2015 year-end results which revealed an increase in revenues across the board.

Revenue

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Revenue for Q1 2016 was £291 million ($420 million), 2 percent higher than the £285 million ($411 million) reported for Q1 2015. Trading conditions have reportedly remained mixed, although the pick-up in activity levels in some products and markets noted in the last two months of 2015 has continued during the period.

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Trading Volumes

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Trading volumes In Europe and the Middle East have remained subdued, reflecting lower activity in traditional product areas.

Activity levels in the Americas have benefited from the investments that have been made in energy in the region. The performance of Asia Pacific has continued to progress, benefiting from the investment made in fixed income capability at the end of 2015.

Acquisition

In November 2015, the company announced its proposed acquisition of the global hybrid voice broking and information businesses of ICAP plc. The company continues to plan for the integration of the two businesses. The transaction, which remains subject to clearance from certain antitrust authorities and various regulatory consents, is expected to complete in 2016.

ICAP plc is due to report its preliminary results today, 16 May, 2016. The company will issue an announcement and a supplementary prospectus in parallel, setting out the preliminary results of the businesses it is acquiring from ICAP.

 

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