Jarvis Securities Regulatory News (JIM)

4 Apr 2008 07:01

Jarvis Securities plc04 April 2008 Jarvis Securities plc ("Jarvis" or "the Company") Q1 Trading Update and Contract Wins Jarvis is pleased to announce that it has continued to perform strongly duringthe first quarter of 2008. Despite the caveats raised in our last AnnualReport, the optimism of the Board that 2008 would be another promising year forthe Company has been borne out during the first three months of trading. Trade volumes are up more than 6% on the same period in 2007 and commercial andretail client numbers continue to grow. In addition, pre-tax profit iscurrently running ahead of market expectation. Jarvis is also able to announce that it has recently agreed and signed three newcommercial contracts for settlement services. The firms involved are currentlyat various stages of regulatory approval and preparation to commence operationsand therefore further details will be issued in due course. Commenting, Andrew Grant the Chairman of Jarvis said: "I am very pleased that our confidence for 2008 has been well founded so far.There are clearly many challenges for financial businesses at the moment butour outsourced services remain attractive to potential customers, particularly those looking to gain efficiencies and reduce costs. Volatility also benefitsJarvis with increased trading volumes and we have also gained from the currentcredit environment. Jarvis has no debt and no exposure to investment instrumentsand we have been able to obtain deposit rates significantly above base ratebecause of the current high demand for short-term cash in the market. Icontinue to look forward with cautious optimism." Enquiries: Jarvis Securities plcMathew Edmett Tel: 0870 224 1111 Daniel Stewart & Company plcLindsay Mair/Tessa Smith Tel: 020 7776 6550 Notes: Jarvis Securities plc is the holding company for Jarvis Investment Managementplc (AIM: JIM.L) a stock broking company and outsourced service provider forbespoke tailored financial administration. Jarvis was established in 1984 and isa member of the London Stock Exchange; a broker dealer member of PLUS Markets,authorised and regulated by the Financial Services Authority and an HM Revenue& Customs approved PEP and ISA manager. Jarvis has more than 30,000 retailclients and a growing number of institutional clients. As well as normal retailbroking Jarvis provides cost effective and flexible share trading facilitieswithin PEP, ISA and SIPP wrappers. Jarvis provides outsourced and partnered financial administration services to anumber of third party organisations. These organisations include advisers,stockbrokers, banks and fund managers. Jarvis can tailor its administration processes to the requirements of each organisation and has a strong reputationfor flexibility and cost-effectiveness. This information is provided by RNS The company news service from the London Stock Exchange