Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

On-Line To Continue Seeking Investments, Working With ADVFN

12th Nov 2014 11:35

LONDON (Alliance News) - Investment company On-Line PLC, ADVFN PLC's largest shareholder, said Wednesday it would continue to work with ADVFN to help them develop and build their business, as it continues to look for new investment opportunities.

On-Line's sole investment is a 18.26% stake in ADVFN, as such its performance is reliant on ADVFN. It posted a pretax loss of GBP9,000 for the year to end-June, narrowed from GBP11,000 a year before, on turnover of GBP78,000 compared to GBP91,000 a year before.

Administrative costs reduced to GBP85,000 from GBP101,000. The company said its costs remain reasonably fixed and predictable, although it has made efforts to control its running costs.

ADVFN reduced its loss to GBP454,000 from GBP539,000 in its most recent financial year, as earnings before interest, tax, depreciation and amortisation rose to GBP298,000 from GBP108,000.

"The prospect of ADVFN continuing to grow in the medium term provides the incentive to go on concentrating on this business in the immediate future. Should other investment opportunities present themselves the directors will investigate them appropriately," the company said in a statement.

Shares in On-Line are untraded Wednesday, it was quoted at 19.50 pence at market open.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2014 Alliance News Limited. All Rights Reserved.


Related Shares:

On-Line PLC
FTSE 100 Latest
Value8,867.02
Change12.84