2nd Nov 2015 07:56
LONDON (Alliance News) - Share PLC on Monday said dealing activity has continued to be weak in the fourth quarter of 2015 and, with little expectation of any improvement emerging, the company now anticipates its full-year results will miss the market view.
Share, which operates The Share Centre Ltd, a retail stockbroker, said deal activity has been weak in October, undermined by concerns about China and global growth levels and uncertainty about when the US Federal Reserve will hike interest rates. As a result of these issues, the company has not seen the normal seasonal pick-up in deal volumes following the quieter summer months.
It expects this to continue and, as a result, its results for 2015 are set to miss market expectations.
Revenue in the third quarter to the end of September was down 1.0%, the company said, due to the same issues giving it cause for concern going into the fourth quarter, though it did outperform the market, Share said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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