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21 Jan 2009 13:09
ADVFN plc ("ADVFN" or the "Company")
Result of AGM / CEO statement
The Company announces that at its Annual General Meeting held today, 21 January 2009, all resolutions were duly passed. In addition, the CEO of ADVFN, Clem Chambers, made the following statement:
"The year to June 08 was an exceptional year for ADVFN and the numbers belie a reality that we have outperformed expectations and are riding out the credit crunch.
It seems unintuitive that in such a harsh market environment we are actually growing. I am happy to report that while conditions are clearly very challenging, we are still making headway. Sales grew by 15% from 2007 to 2008 and have continued to rise in the first half of the new financial year.
We have spent much of calendar year 2008 battening down the hatches and this is a process which has been focused on by our newly formed finance team. This has brought us solid financial benefits. This ongoing process and current gains are aimed to bring the company to profitability for 2010. I believe we have the visibility to make this our target. We have already made good progress in the first half of this year."
Contacts
Clem Chambers / Francesca De Franco (ADVFN) - 020 7070 0932
Fiona Kindness, Grant Thornton UK LLP (Nominated Adviser) - 020 7728 3414
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