Tullett Prebon profits fall as market challenges continue

Money broker Tullett Prebon posted a decline in annual profit and a modest increase in revenue as it weathers challenging market and competitive conditions.

Money broker Tullett Prebon posted a decline in annual profit and a modest increase in revenue as it weathers challenging market and competitive conditions.

The firm, which offers broking solutions to volatility trading, interest rate options, treasury, and credit derivatives, said underlying pre-tax profit fell to £136.1m for the year ended 31 December 2011 from £149m the year before. Revenue was little changed at £910.2m from £908.5m previously.

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