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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tullett Prebon | LSE:TLPR | London | Ordinary Share | GB00B1H0DZ51 | ORD 25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 418.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
The condensed consolidated financial information for the six months ended 30 June 2015 has been prepared in accordance with the Disclosure and Transparency Rules ('DTR') of the Financial Conduct Authority and with IAS 34 'Interim Financial Reporting' as adopted by the European Union ('EU'). This condensed financial information should be read in conjunction with the Statutory Accounts for the year ended 31 December 2014 which were prepared in accordance with International Financial Reporting Standards ('IFRSs') as adopted by the EU.
The Statutory Accounts for the year ended 31 December 2014 have been reported on by the Company's auditors, Deloitte LLP, and have been delivered to the Registrar of Companies. The report of the auditors on those accounts was unqualified, did not draw attention to any matters by way of emphasis and did not contain a statement under section 498(2) or (3) of the Companies Act 2006.
The condensed consolidated financial information for the six months ended 30 June 2015 has been prepared using accounting policies consistent with IFRSs. The interim information, together with the comparative information contained in this report for the year ended 31 December 2014, does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The financial information is unaudited but has been reviewed by the Company's auditors, Deloitte LLP, and their report appears at the end of the Interim Management Report.
2. Accounting policies
The Condensed Consolidated Financial Statements have been prepared on the historical cost basis, except for the revaluation of certain financial instruments. The Group has adequate financial resources to meet the Group's ongoing obligations. Accordingly, the going concern basis continues to be used in preparing these Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements are rounded to the nearest hundred thousand pounds (expressed as millions to one decimal place - GBPm), except where otherwise indicated.
The same accounting policies, presentation and methods of computation have been followed in the Condensed Consolidated Financial Statements as applied in the Group's latest annual audited Group Financial Statements for the year ended 31 December 2014, except as described below.
The Group has adopted Amendments to IAS 19 'Employee Benefits' regarding employee contributions to defined benefit plans, the Annual Improvements to IFRSs (2010-2012 Cycle) and the Annual Improvements to IFRSs (2011-2013 Cycle). The adoption of these amendments has had no impact on the Condensed Consolidated Financial Statements.
3. Related party transactions
Related party transactions are described in Note 36 to the 2014 Statutory Accounts. There have been no material changes in the nature or value of related party transactions in the six months ended 30 June 2015.
4. Principal risks and uncertainties
Robust risk management is fundamental to the achievement of the Group's objectives. The Group maintains a Risk Assessment Framework which identifies risks within the following nine risk categories: Market Risk, Credit Risk, Operational Risk, Strategic and Business Risk, Governance Risk, Regulatory, Legal and Human Resource Risk, Reputational Risk, Liquidity Risk and Other Financial Risks. A detailed explanation of the above risks can be found on pages 18 to 21 of the latest Annual Report which is available at www.tullettprebon.com. The Directors do not consider that the principal risks and uncertainties have changed since the publication of the Annual Report for the year ended 31 December 2014. Risks and uncertainties which could have a material impact on the Group's performance over the remaining six months of the financial year are discussed in the Interim Management Report.
5. Segmental analysis
Products and services from which reportable segments derive their revenues
The Group is organised by geographic reporting segments which are used for the purposes of resource allocation and assessment of segmental performance by Group management. These are the Group's reportable segments under IFRS 8 'Operating Segments'.
Each geographic reportable segment derives revenue from Treasury Products, Interest Rate Derivatives, Fixed Income, Equities, Energy, and Information Sales and Risk Management Services.
Information regarding the Group's operating segments is reported below:
Hot Features
Premium
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2015 2014 2014
GBPm GBPm GBPm
Revenue
Europe and the Middle East 241.9 209.0 405.6
Americas 117.9 102.7 201.6
Asia Pacific 55.9 48.6 96.3
----------- ----------- -------------
415.7 360.3 703.5
=========== =========== =============
Operating profit
Europe and the Middle East 46.3 43.0 80.1
Americas 7.1 2.7 10.5
Asia Pacific 7.2 4.6 10.1
----------- ----------- -------------
Underlying operating profit 60.6 50.3 100.7
Exceptional and acquisition related
items (Note 6) 58.2 (34.3) (53.1)
Reported operating profit 118.8 16.0 47.6
Finance income 1.9 1.8 3.6
Finance costs (9.6) (8.9) (17.7)
Profit before tax 111.1 8.9 33.5
Taxation (23.7) (7.1) (10.4)
----------- ----------- -------------
Profit of consolidated companies 87.4 1.8 23.1
Share of results of associates 1.2 1.2 1.9
----------- ----------- -------------
Profit for the period 88.6 3.0 25.0
=========== =========== =============
There are no inter-segment sales included in segment revenue.
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2015 2014 2014
Revenue by product group GBPm GBPm GBPm
Treasury products 96.0 96.9 190.5
Interest Rate Derivatives 76.2 70.6 140.6
Fixed Income 93.6 103.0 186.5
Equities 21.5 20.3 39.5
Energy 101.2 46.6 100.0
Information Sales and Risk Management
Services 27.2 22.9 46.4
----------- ----------- -------------
415.7 360.3 703.5
=========== =========== =============
Other segmental information
30 June 30 June 31 December
2015 2014 2014
Segment assets GBPm GBPm GBPm
Europe and the Middle East - UK 5,071.0 12,235.1 1,741.7
Europe and the Middle East - Other 40.1 25.1 24.2
Americas 5,793.2 6,933.6 2,184.4
Asia Pacific 77.4 61.1 70.1
--------- --------- ------------
10,981.7 19,254.9 4,020.4
========= ========= ============
30 June 30 June 31 December
2015 2014 2014
Segment liabilities GBPm GBPm GBPm
Europe and the Middle East - UK 4,693.3 11,982.2 1,408.8
Europe and the Middle East - Other 37.5 20.0 19.8
Americas 5,690.9 6,845.3 2,089.8
Asia Pacific 39.4 33.8 38.5
--------- --------- ------------
10,461.1 18,881.3 3,556.9
========= ========= ============
Segmental assets and liabilities exclude all inter-segment balances.
6. Exceptional and acquisition related items
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