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LONDON (Alliance News) - ADVFN PLC Monday expressed confidence for 2014, as it narrowed its pretax loss on higher revenues in the half year ended December 31, 2013.
ADVFN operates a financial market information website.
The company posted a pretax loss of GBP289,000, versus a pretax loss of GBP370,000 in the previous year, as revenue rose to GBP4.5 million from GBP4.1 million in the previous year.
The company said it was optimistic that its pretax loss and operating loss will continue to narrow.
The company said that its online traffic had grown 25% in the new year compared to the end of 2013, with growth particularly from the US. This bodes well for the year, ADVFN said, as it will lead to new subscription growth, which in turn increases advertising revenue growth. It said its online traffic growth in January and February were the strongest since 2008.
ADVFN expressed confidence for its future, saying that the first two months of 2014 "leave [it] feeling invigorated and very optimistic about the future."
Although growth primarily came from its core markets of the US and UK, ADVFN said it continues to expand its offering globally, and that its Mexico, Japan, and Phillipines operations had continued to make progress.
Shares in ADVFN were trading up 7.8% at 3.45 pence Monday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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