Tullett Prebon PLC Capital Markets Day (9780P)
June 12 2015 - 2:00AM
UK Regulatory
TIDMTLPR
RNS Number : 9780P
Tullett Prebon PLC
12 June 2015
12 June 2015
Tullett Prebon plc
Capital Markets Day
Tullett Prebon plc (the "Company") is today hosting a capital
markets day for institutional investors and analysts in London. The
event will be hosted by John Phizackerley, Chief Executive,
together with other members of the Company's senior management
team. The event will provide an update on the Company's strategy
and its ten key initiatives, and will include presentations on the
regional broking businesses, the Company's Energy franchise, and
its Information Sales business.
John Phizackerley will articulate the Company's goal of becoming
the world's most trusted source of liquidity in hybrid OTC markets
and the best operator in global voice broking. The Company's plan
is to increase revenue and raise the quality and quantity of
earnings, through further diversification of the client base,
continued expansion into Energy and commodities, and building scale
in the Americas and Asia Pacific, whilst preserving the business's
core franchises.
He will outline the projects that have been initiated to
optimise performance, to develop scale, increase geographic and
product coverage in the most attractive segments of the market, and
improve the Company's functions in order to support the growth of
the revenue generating divisions. Other members of the senior
management team will discuss the potential opportunities for the
Company in each of the regional broking businesses, in the Energy
sector, and in Information Sales.
The Company will not be providing an update to the trading
statement issued on 6 May 2015.
In that trading update the Company reported that revenue in the
four months to April of GBP284m was 15% higher than the GBP248m
reported for the same period in the previous year. The trading
update also reported that the benefits of the action taken by the
Company during 2014 to reduce headcount and other fixed costs have
been reflected in an improvement in the business's contribution
margin in the first part of 2015 compared with the same period a
year ago, and that the Company is continuing to invest in the
development of the business and in the implementation of the
cultural framework.
John Phizackerley will announce a number of new senior
management hires and will highlight that the management of the
business initiatives and the strengthening of the control and
support functions that will be discussed today is estimated to
increase ongoing costs by less than 1% of revenue annually, of
which just over three-quarters will be incurred in 2015. He will
emphasize that these investments are important for the Company to
retain its competitive advantage, to innovate, and to grow revenue
and earnings.
No further material new information will be provided.
Presentation materials will be made available on the Tullett
Prebon website: (www.tullettprebon.com) in due course.
Tullett Prebon plc will report its Interim Results for the 6
months to 30 June 2015 on 28 July 2015.
Enquiries:
Tullett Prebon plc
Stephen Breslin, Head of Communications Direct +44 (0)20 7200 7750
Email: sbreslin@tullettprebon.com
Alexandra Wick, Communications Director Direct +44 (0)20 7200 7579
Email: awick@tullettprebon.com
Brunswick Group LLP
Craig Breheny, Director Direct +44 (0)20 7396 7429
Email: cbreheny@brunswickgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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