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Aquis Exchange eyes opportunities as annual profit and revenue climb

21st Mar 2024 14:17

(Alliance News) - Aquis Exchange PLC on Thursday said it performed well despite difficult market conditions, citing a benefit of diversified revenue streams.

The London-based creator and facilitator of financial markets said pretax profit jumped 15% to GBP5.2 million in 2023 from GBP4.5 million in 2022.

Net revenue climbed 13% to GBP22.7 million from GBP20.1 million.

Noting "the most challenging market and economic conditions we have ever seen," Chief Executive Officer Alasdair Haynes said: "This makes it all the more noteworthy that Aquis was able to deliver growth across all its divisions, with significant progress made on a number of strategic initiatives, including an increase in the pan-European market share of our Aquis Markets division, and a significant Technology contract secured with a central bank."

He added that the challenging conditions have continued into the first quarter of 2024.

Looking ahead, CEO Haynes said: "Our principal aim in the future remains to deliver robust and sustainable returns for the benefit of shareholders and all our other stakeholders in the medium and long term. Our highly capable and experienced management team remains focused on serving our clients as we grasp the opportunities ahead and, in particular, on delivering our shared goals and technological innovations. The outlook for 2024 is currently in line with board expectations."

Aquis Exchange shares rose 3.3% to 372.00 pence each on Thursday afternoon in London.

By Tom Budszus, Alliance News slot editor

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