Tullet Prebon says FY revenue falls 6 percent
LONDON, March 4
LONDON, March 4 (Reuters) - British interdealer broker Tullett Prebon said full year revenue fell 6 percent, just behind analysts' expectations, as low market volatility dampened market activity and new regulations for derivatives created uncertainty for clients.
The broker, which matches buyers and sellers of currencies, bonds and swaps, said on Tuesday that revenues for the year ending Dec. 31 were 803.7 million pounds ($1.34 billion), down from 850.8 million pounds a year earlier.
That compared with a consensus estimate compiled by Tullett for full-year revenue of 807 million pounds.
Pretax profit was 99.6 million million pounds, down from percent from 111.3 million pounds in 2012. Analysts were expecting profit of 102 million pounds.
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