Plus Markets full year losses widen on infrastructure costs

Source: Plus Markets

Plus Markets Group reports its preliminary results for the year ended December 31st 2007.

Key year-end targets achieved for Plus Markets Group include;
  • Successful establishment of a new small & mid-cap equity stock exchange in London - Recognised Investment Exchange status granted July 2007
  • Dramatic rise in trading volumes on new OMX trading platform since installation on 5 November 2007
  • Over 600 companies now see the majority of their share trading taking place on PLUS, of which over 400 are listed/quoted on other markets
  • Revenues of £3.10 million (2006 - £2.17 million) up 43% on the previous year, being the second consecutive year of 40+% growth;
  • Loss for the year of £2.98m (2006 - £1.24 million), in line with budgeted infrastructure development, including the new OMX platform; and
  • Clear path to cash generation in 2009, subject to receiving the right to trade all AIM securities.


Commenting on the annual report, Chief Executive Officer Simon Brickles said: "We are proud to have established a new small & mid-cap stock exchange for London, at a time when the European exchange industry is going through a period of momentous change following the introduction of MiFID. Our rapid progress in capturing liquidity demonstrates empirically that there is customer demand for our competitive offering. We look forward with confidence to the introduction of wider competition, thereby allowing investors to access the best execution possibilities potentially available on PLUS in respect of all AIM securities."

Read the full statement here:Download the document now 101.4 kb (PDF File)

Comments: (0)