24 January 2018
visit www.ebaday.com

Patsystems rises on Q2 trading update

01 July 2005  |  4450 views  |  0 patsystems_2

Shares in London screen dealing firm Patsystems have jumped on news that it expects to break even for the first half of the year after posting a Q2 trading profit of £300,000, boosted by increased revenues and lower costs.

Patsystems stock rose 16.60% in morning trading to 14.00 pence after the firm released a pre-close update saying it expects to report a trading profit of approximately £300,000 for the second quarter ending 30 June 30th, compared to losses of around £350,000 for Q2 last year.

Second quarter exceptional costs amount to around £175,000, comprising final R&D costs of the vendor's new TradeMark platform and legal fees relating to the Trading Technologies patent issue, which was settled in May.

The vendor says trading profit for the half year is expected to be approximately break even compared with a trading loss of £782,000 in the first half of 2004.

First half 2005 pre-tax and interest loss is expected to be £550,000-£600,000, compared to a first half loss of £1,850,000 in 2004. The improvements are a result of increased revenues combined with a sustained reduction in costs.

Patsystems says starting in June 2005 it has a total cost base (including depreciation and amortisation) of just under £3 million per quarter, down from £3.7 million in mid-2004, and revenues of over £3 million, before launches of new products or new client contracts.

The firm expects to release its interim results for the six months ended 30 June 2005 in early August.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Patsystems releases Pro-Mark and IQ-Trader front ends

Patsystems releases Pro-Mark and IQ-Trader front ends

08 June 2005  |  4494 views  |  0 comments
Patsystems outlines royalty settlement with Trading Technologies

Patsystems outlines royalty settlement with Trading Technologies

23 May 2005  |  8648 views  |  0 comments
Patsystems settles TT patent claim

Patsystems settles TT patent claim

20 May 2005  |  10586 views  |  0 comments
Patsystems on course for break even in Q2

Patsystems on course for break even in Q2

21 April 2005  |  4381 views  |  0 comments
Patsystems wins Tokyo Grain Exchange deal

Patsystems wins Tokyo Grain Exchange deal

21 February 2005  |  4394 views  |  0 comments
Patsystems unsettled by TT patent case; profits forecast for 2005

Patsystems unsettled by TT patent case; profits forecast for 2005

07 February 2005  |  5648 views  |  0 comments
Patsystems rushes out Reflector interface

Patsystems rushes out Reflector interface

25 November 2004  |  3933 views  |  0 comments
Patsystems to post 12% revenue rise for Q3

Patsystems to post 12% revenue rise for Q3

08 November 2004  |  3211 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.fivedegrees.nlvisit www.capgemini.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9823 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9510 views comments | 14 tweets | 14 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8546 views comments | 17 tweets | 11 linkedin
Could distributed ledgers restore the reputation of the MBS market?Could distributed ledgers restore the repu...
7056 views comments | 6 tweets | 9 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
7044 views comments | 13 tweets | 25 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job