British interdealer broker Tullett Prebon reported that its staff defections affected 2009 revenue and continues to hamper as it rebuilds its teams, after it reported a small hike in pretax profit on Monday.

The company's adjusted pretax profit registered a rise of 1 percent to 157 million pounds ($238.2 million) for the 12 months to end-December, beating the consensus prediction of 155.8 million pounds, according to Thomson Reuters I/B/E/S.

"The underlying revenue run rate in the first two months of the year is 5% lower than a year ago at constant exchange rates. We expect this run rate against prior year to improve, particularly in the second half", Chief Executive Terry Smith posted.

Tullett had already cautioned in November that it could lose 7.5 percent in revenue after brokers defected to rival BGC. Between August and December, 77 North American brokers resigned, he added.

Analysts at Oriel Securities, with a buy recommendation on the shares, revealed that there could be some profit-taking on the shares post to a rally in the past month.

The company reported that its overall market activity has also been sluggish in the second half of 2009, and continue to remain at a more normal level in contrast with the particularly volatile financial markets in late 2008 and early
2009 following the Lehman Brothers failure.