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Share Name Share Symbol Market Type Share ISIN Share Description
Advfn Plc LSE:AFN London Ordinary Share GB00BPT24C10 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 51.00 47.00 55.00 51.00 50.00 51.00 403 08:00:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 9.1 1.6 6.3 8.1 13

ADVFN Swung to Pretax Profit for Fiscal Year 2021 on Higher Revenue

10/11/2021 8:40am

Dow Jones News


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By Xavier Fontdegloria

 

ADVFN PLC on Wednesday reported a swing to a pretax profit for fiscal 2021 on higher revenue as the business was boosted by Covid-19 related lockdowns, a boom in cryptocurrency markets and the rise of a new generation of investors.

The London-listed provider of financial information posted a pretax profit of 1.6 million pounds ($2.2 million) for the year ended June 30, compared with a pretax loss of GBP349,000 a year earlier.

The company said revenue increased 28% to GBP9.1 million from GBP7.1 million a year ago.

ADVFN said that measures to cope with the Covid-19 pandemic over the period raised interest in trading and investing, increasing the company's subscriptions and advertising revenue. A growing interest in the cryptocurrency market and activity coming from a new generation of traders also provided tailwind to the business, it said.

The company declared a dividend of 1.5 pence a share for fiscal 2021.

 

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

 

(END) Dow Jones Newswires

November 10, 2021 03:25 ET (08:25 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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