ADVFN focuses on cutting costs

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.

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.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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