ADVFN Swung to Pretax Profit for Fiscal Year 2021 on Higher Revenue
November 10 2021 - 3:40AM
Dow Jones News
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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