28th Oct 2014 09:36
LONDON (Alliance News) - Share PLC on Tuesday posted a fall in revenue in the third quarter on the back of weaker market conditions, though the group said it outperformed its peer group and increased its market share.
The company, which operates stockbroker The Share Centre Ltd, said a fall in trading activity in the third quarter to the end of September meant its revenue in the period was down 2.3% year-on-year.
Against the comparable period in 2013, dealing commission was down 4%, fee income was down 2% and interest income fell 12%.
The group said that despite the revenue fall, the drop outperformed its peer group, which saw a 6.4% average decline in revenue over the period. Share increased its market share over the period to 7.6% from 7.3% a year earlier.
"In a more challenging market environment, Share's performance in the third quarter held up well especially against our peer group," said Share Chief Executive Richard Stone.
"Our more robust performance is helped by our flat-fee model which generates predictable recurring income," Stone added.
Share shares were up 0.6% to 40 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SHRE.L