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***Accelerated growth rate through increases in revenues and user numbers***
ADVFN, the UK’s leading private investor website has issued its interim results.
The company has highlighted progress in all areas of its business announcing EBITDA profits of £301K from a previous loss of £10K in 2002, a 27% increase in subscribers and a 31% increase in user numbers to over 300,000 from December 2002 to December 2003. Turnover for the six months to December 31st was up 23% to £1.33M compared to the same period last year.
ADVFN has continued to strengthen the business by launching landmark products including new sources of data from a range of markets. It recently added a host of Canadian and Russian exchanges and will be adding a comprehensive range of foreign markets throughout 2004 and 2005. ADVFN’s new services and innovative tools are instrumental in creating a truly global offering. The company remains the leading online destination for private investors in the UK and traffic and revenue from the US is growing every day.
ADVFN also reported that it is continuing to attract more advertisers from overseas and that it has taken advantage of the recent market conditions to add further robustness to its organisation, product and finances.
“These results demonstrate ADVFN’s sound business model and highlight how we are laying down the foundations for future revenue growth. We have built a solid business platform by investing in our staff, our processes and our infrastructure,” said Clem Chambers, CEO of ADVFN.
“While continuing to grow our UK business, the market opportunity outside of the UK is significant and we are well positioned to exploit this potential and it is our goal to repeat our UK success in the US and elsewhere. We are happy with our progress and quietly confident of a very positive outcome,” he continued.
Clem Chambers will be giving a live interview on ADVFN’s Chat station on Tuesday 30th, March at 11am.
Visit http://wwwadvfn.com/cmn/fbb/thread.php3?id=6112546 for further details and click on the ‘chat’ tab to log in.
NOTES TO EDITORS
ADVFN (www.advfn.com) is the UK's number one stocks and shares Web site. With full real-time coverage of the euronext-liffe, the London Stock Exchange, OFEX, NASDAQ, Amex and NYSE, including FTSE, Dow and S&P indices, ADVFN provides professional quality information to the person on the street.
ADVFN was established in the last quarter of 1999 and floated on AIM in March 2000. It now has over 300,000 registered users who generate in excess of 38 million page impressions a month.
We currently cover the following areas in the UK, France and America:
· Free real-time prices from the London Stock Exchange
· EURONEXT - Paris, Brussels and Amsterdam
· Russian stocks and indices
· Level 2 data
· Comprehensive fundamental data
· Streaming stock charts, historic and intraday
· CREST stock loan data
· RNS and AFX news
· UK's busiest financial bulletin boards
· Historical data downloads
· Stock monitors and filters
· Covered Warrants
· Trading signals
· Investor Relations Web site solutions
· PDA service
· SMS stock quote service
· ADVFN TALK – Inter-casting show
For further press information, please contact: Francesca De Franco on 020 7070 0932 E-mail firstname.lastname@example.org
Published on: 12:00AM on 30th March 2004