ADVFN targets international growth as markets rebound

ADVFN targets international growth as markets rebound

UK private investor Web site ADVFN is reaping the benefits of more benign market conditions, posting EBITDA profits of £301K for the six months to end-December 2003, from a previous loss of £10K in 2002.

Turnover for the first half was up 23% to £1.33 million compared to the same period last year, as the markets rebounded. The firm says subscriber numbers have increased by 27% year on year.

Net losses narrowed 45% to £147K from £268K in H1 2002.

The uplift in trading has carried on into the first quarter, says Clem Chambers, ADVFN managing director.

"We have increased our overall user base by over 33% from 250,000 at June 2003 to over 335,000 at March 2004 with an increasingly significant proportion of new users coming from the USA and overseas," he says. "While continuing to grow our UK business, the market opportunity outside of the UK is significant."

ADVFN was established in the last quarter of 1999 and floated on AIM in March 2000. It now claims over 300,000 registered users who generate in excess of 38 million page impressions a month.

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