12th May 2016 06:57
LONDON (Alliance News) - Interdealer broker Tullett Prebon PLC on Thursday said revenue grew in the first four months of 2016, though trading conditions remain mixed.
The company said revenue for the four months to the end of April was GBP291.0 million, 2.0% higher than the GBP285.0 million reported a year earlier, but down 1.0% in constant currencies.
Tullett said trading volumes in Europe and the Middle East have remained subdued, reflecting lower activity in traditional product areas, while activity in the Americas has benefited from investments made in the business.
Asia Pacific, meanwhile, has continued to make progress, again benefiting from investments made in 2015.
Tullett added its acquisition of the hybrid voice broking and information arm of rival interdealer broker ICAP PLC has progressed to plan and it continues to expect the deal will complete in 2016.
By Sam Unsted; [email protected]; @SamUAtAlliance
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