ADVFN PLC Trading Update (3877A)
21 Gennaio 2020 - 8:30AM
UK Regulatory
TIDMAFN
RNS Number : 3877A
ADVFN PLC
21 January 2020
For immediate release
21 January 2020
ADVFN PLC
("ADVFN" or the "Company")
Trading update
The Board of ADVFN expects to publish its unaudited interim
accounts for the six months ended 31 December 2019 (the first half)
towards the end of March in line with the normal reporting
timetable.
Sales during the first half were generally flat although sales
overall were in the latter part of the first half below
management's expectations. Registered users remained broadly
constant at around 4.7 million. From time to time ADVFN has
experienced similar variations in market conditions and has
subsequently adjusted its cost base to accommodate them.
Historically, the Company has always looked to grow by investing
available capital into the development of the company and has
previously reduced its operational cost base and level of
investment to align it more closely with the market conditions.
Given the lower level of sales in the first half (and in particular
the period immediately leading up to Christmas) first half sales
are estimated to have been approximately GBP3.6 million (2018:
GBP4.3 million), reflected in an increased loss in the first half
(compared to the first half in 2018). The Company is currently
reducing its head count and the Board believes that this cost
reduction will be reflected in an improved performance in the
second half.
Clem Chambers said:
"While developments in the New Year have been positive, we are
adjusting our cost base to accommodate a broader range of outcomes
in 2020."
More information on ADVFN can be found at: www.ADVFN.com
For further information please contact:
ADVFN PLC +44 (0) 207 070 0909
Clem Chambers, CEO
Beaumont Cornish Limited (Nominated Adviser)
www.beaumontcornish.com
+44 (0) 207 628 3396
Roland Cornish/Michael Cornish
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END
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