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Tullett Prebon plc

Tullett Prebon plc. Preliminary Results 2006 March 2007. Terry Smith, Chief Executive Paul Mainwaring, Finance Director. Terry Smith. Chief Executive. Themes. Creation of significant shareholder value Demerger of Collins Stewart £301.5m return of capital Final dividend 6p per share.

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Tullett Prebon plc

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  1. Tullett Prebon plc Preliminary Results 2006 March 2007 Terry Smith, Chief Executive Paul Mainwaring, Finance Director

  2. Terry Smith Chief Executive

  3. Themes • Creation of significant shareholder value • Demerger of Collins Stewart • £301.5m return of capital • Final dividend 6p per share

  4. Operational and Strategic Highlights • Integration cost benefits fully realised • Underlying revenue growth of 5% • Strong performance in Europe • TradeBladeTM rollout continuing • Chapdelaine acquisition • Asia recovery

  5. Financial Performance

  6. Revenue Growth Full Year

  7. Revenue Growth H2

  8. Revenue by Region

  9. Revenue by Product Group

  10. Operating Profit and Margin by Region

  11. Performance Measures

  12. TradeBladeTM • Repo – launched January 2006 – 35% share of electronic volumes • Agencies – launched November 2006 – supports existing voice broking • Treasuries – re-launched improved platform February 2007 • Bills – launched February 2007 – 15% share in first month • 3 more products to launch this year

  13. Chapdelaine • Corporate, emerging markets, CDS – fully integrated • Revenues above expectations • Strong initial margins

  14. Comparison with Sector

  15. Paul Mainwaring Finance Director

  16. Profit & Loss

  17. Finance Income/(Expense)

  18. Taxation

  19. EPS

  20. Operating Cash Flow

  21. Net Cash Flow

  22. Balance Sheet

  23. Operating Assets/(Liabilities)

  24. Proforma Balance Sheet

  25. Terry Smith Chief Executive

  26. Future Developments and Outlook • Organisational changes • America • Product development • Delivering value through accelerated revenue growth • Financial discipline • Outlook positive

  27. Appendices

  28. Net Funds

  29. Movement in Net Funds

  30. Competitor Analysis - Sources • Operating profits are shown before exceptional items and net interest. • ICAP is 12 months to September 2006 with prior year comparatives. • GFI and eSpeed are 12 months to December 2006 with prior year comparatives. • Tradition 12 months to June 2006 with prior year comparative. • GFI and eSpeed @ US$ 1.835 = £1. • Tradition @ CHF 2.3 = £1.

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