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ADVFN users increase by 20%, first half turnover climbs 19% to £4 million

In the first half ended 31st December 2009, retail investor community and data provider ADVFN (AIM: ADVFN) revealed that it increased its user base by 20% to 1.8 million users. Consequently the company increased turnover by 19% to approximately £4 million, and reduced its losses to £330,000 compared to £460,000 in the previous year.

The improved performance, translates into a 60% reduction in ADVFN’s half-yearly operating loss, which was £160,000 in the first half.

Through the six month period, ADVFN was cash-flow positive, with cash in hand as at 31st December of £1.7 million, compared to 1.2 million last year.

“The six month period to the half year has once again shown good improvement over the previous year. Top line growth is coming through to the bottom line”, ADVFN Chief Executive Clem Chambers said. “We continue to see improvements in line with the general trend with solid progress for our business model”.

Disclosure: The author holds no positions in the company