Stocks and shares website operator ADVFN has halved annual pre-tax losses to £710,000 owing to strict cost management.

Stocks and shares website operator ADVFN has halved annual pre-tax losses to £710,000 owing to strict cost management.

Turnover at the London-based company edged £103,000 forward to £7 million in the year to June and it reduced workforce numbers ‘below target’ by being ‘less aggressive’ in replacing staff losses.

Against a challenging business background, managing director Clem Chambers says ADVFN decided to be ‘quite defensive’ and focus on costs, while the long-term strategy remains to build the company internationally as a provider of information for private investors, generating revenue from advertising sales and subscription products.