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Interim Results

Tullett Prebon's profit

02 August 2016 07:22

Tullett Prebon has lifted its underlying H1 pretax profit to £60.3m, from £52.9m, with revenue rising to £430.3m, from £415.7m.

A 5.6p a share interim dividend would be paid on Nov. 14.

CEO John Phizackerley said:

"I am pleased with the financial performance in the first half of 2016.

"A resilient performance from the broking business in challenging markets saw the subdued client demand in some of our heritage product areas more than offset by the performance of our Energy and Commodities, and Equities products. ...

"Our goal is to become the world's most trusted source of liquidity in hybrid OTC markets and the best operator in global hybrid voice broking.

"Our acquisition of IGBB, which provides a unique opportunity to accelerate the delivery of our strategy, is on track.

"We are in advanced planning for the integration of the two businesses after completion of the transaction, which we expect will be during the latter part of 2016.

"At the same time we continue to look for opportunities to increase revenues and raise the quality and quantity of earnings.

"This will be achieved through further diversification of the client base, continued expansion into Energy and Commodities, building scale in the Americas and Asia Pacific, and preserving the business' core franchises."

Story provided by StockMarketWire.com

Related Company: TLPR

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