March 1, 2016 / 7:32 AM / 4 years ago

Interdealer broker Tullett Prebon's full-year profit rises

(Reuters) - Interdealer broker Tullett Prebon Plc TLPR.L reported a 7 percent rise in full-year profit, boosted by cost cuts and heavy trading in energy and commodity products due to the increased volatility in those markets.

Tullett, which is to buy larger peer ICAP Plc’s IAP.L global broking business, said underlying operating profit rose to 107.9 million pounds in the year ended Dec. 31, from 100.7 million pounds a year earlier.

Tullett also said it was still working to get regulatory clearances for its proposed acquisition of ICAP Plc’s voice broking business and that the deal was expected to close this year.

Reporting by Noor Zainab Hussain and Esha Vaish in Bengaluru; Editing by Gopakumar Warrier

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