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Trading statements

Tullett Prebon notes mixed trading conditions

12 May 2016 07:29

Tullett Prebon said trading conditions have remained mixed, although the pick-up in activity levels in certain products and markets observed in the last two months of 2015 has continued during the period.

Revenue in the four months to April 2016 of GBP291m was 2% higher than the GBP285m reported for the same period last year, and 1% lower at constant exchange rates.

"In Europe and the Middle East, trading volumes 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 company said in a statement.

"The performance of Asia Pacific has continued to progress, benefiting from the investment made in Fixed Income capability at the end of 2015.

"In November 2015, the Company announced its proposed acquisition of the global hybrid voice broking and information businesses of ICAP plc (the "Transaction").

"The Company continues to plan for the integration of the two businesses. In March, both companies' shareholders approved the proposed transaction, which remains subject to clearance from certain antitrust authorities and various regulatory consents.

"The Company continues to expect that the Transaction will complete in 2016."

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Related Company: TLPR

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