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Tullett profit hurt by regulation, low interest rates

Reuters - UK Focus

March 3 (Reuters) - British interdealer broker Tullett Prebon Plc reported a 13 percent decline in full-year pretax profit, hurt by a regulatory crackdown on risky trading and low interest rates dampening market volatility, a key driver of demand for its services.

Tullett, whose brokers match buyers and sellers of currencies, bonds and swaps, said that revenue in the first two months of 2015 had, however, been flat, excluding its takeover of PVM Oil Associates. (Reporting by Richa Naidu in Bengaluru; Editing by Anupama Dwivedi)