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ADVFN profit jumps in H1 as market volatility drives activity on platform
StockMarketWire.com
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ADVFN swing to a profit in the first half of its fiscal year as increased volatility in markets drove client interest in investing drove activity on its platform and led to higher advertising and subscription revenue.
For the half year ended 31 December, pre-tax profit was £264,000 compared with a loss of £402,000 year-on-year as revenue increased to £4.2 million form £3.7 million.
'While we expect growth at a similar pace in the coming half, our strategy is to be very conservative and we will expend our energies growing our platform's capacity rather than looking to broaden our audience,' the company said.
'We are very optimistic about our near and medium-term prospects, but it seems foolish to contemplate anything but a conservative risk profile to at least the year end.'
At 10:11am: (LON:AFN) ADVFN PLC share price was 0p at 15.5p
Story provided by StockMarketWire.com
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