Tullett Prebon sees revenues fall

Inter-dealer broker Tullett Prebon reported a big drop in revenue in the four months to October on subdued market activity.

Inter-dealer broker Tullett Prebon reported a big drop in revenue in the four months to October on subdued market activity.

Revenue between July and October was £276m - 12% lower than reported for the same period last year.

At constant exchange rates, and excluding the acquisitions of Conveno and Chapdelaine, revenue was 15% lower.

The firm said this reflected a particularly slow July and August period compared with the prior year.

Revenue between July and August, at constant exchange rates and excluding the acquisitions, was 19% lower than in the prior year.

Revenue in September and October, at constant exchange rates and excluding the acquisitions, was 10% lower than in the prior year.

This included the adverse effect of Hurricane Sandy on activity in North America in the last few days of the period.

In the year to date (January to October), Tullett said revenue of £731m was 5% lower than the same period last year.

MM

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
3 Feb 2023
When will interest rates go up?
UK Economy

When will interest rates go up?

Interest rates are now at 4%, and they could rise further in the months ahead.
3 Feb 2023
NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023