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ADVFN PLC - London-based operator of financial information websites for private investors - Pretax loss narrows 14% to £532,000 in the six months to December 31, from £622,000 a year prior. Revenue declines 25% to £2.3 million from £3.1 million. ‘The decrease in revenues was primarily attributable to continued adverse market conditions and the discontinuance of company units which no longer supported our business goals,’ Chief Executive Officer Amit Tauman says. Total administrative costs decrease 20% to £2.8 million from £3.5 million. Cost of sales decrease 44% to £109,000 from £196,000. Cash balance as at December 31 surged to £4.8 million from £647,000 a year prior. Looking ahead, CEO Tauman says the company is focused on continuing the current ‘improved trend’. Current stock price: 12.00 pence each, 4.0% lower on Thursday afternoon in London 12-month change: down 66% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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