Trading

Tullett Prebon’s revenues rise on oil unit

Group says previously announced cuts will reduce headcount by around 7.5% in interdealer product areas

Revenue in November and December was helped by a strong performance of PVM
Revenue in November and December was helped by a strong performance of PVM Photo: iStockPhoto

London-based broker Tullett Prebon said volatility in the financial markets boosted results in the last two months of 2015.

Revenue in November and December was up 14% from a year ago to £125 million, helped largely by a strong performance in its oil unit PVM. Excluding that division, revenue rose just 4%.

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