Tullett Prebon PLC Trading Statement (9963X)
12 May 2016 - 4:00PM
UK Regulatory
TIDMTLPR
RNS Number : 9963X
Tullett Prebon PLC
12 May 2016
12 May 2016
Tullett Prebon plc
AGM Statement and Trading Update
Tullett Prebon plc (the "Company") is issuing a trading update
in relation to the four month period from 1 January 2016. This
statement will be delivered by the Chairman to those attending
today's Annual General Meeting.
Business Update
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.
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. 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 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.
The Company notes that ICAP plc will report its Preliminary
Results on Monday, 16 May, 2016. Accordingly, the Company will
issue an announcement and a Supplementary Prospectus on the same
day setting out the preliminary results of the businesses it is
acquiring from ICAP.
Enquiries:
Tullett Prebon plc
Stephen Breslin, Head of Communications
Direct +44 (0)20 7200 7750
Email: sbreslin@tullettprebon.com
Brunswick Group
Kim Fletcher
Craig Breheny
+44 (0)20 7404 5959
Email: tullettprebon@brunswickgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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