13th Nov 2007 10:31
Jarvis Securities plc13 November 2007 JARVIS SECURITIES PLC ("Jarvis" or "the Company") Trading Update Jarvis continues to trade strongly and the Board expects the full year resultsfor 2007 to be ahead of the current market expectation. Analyst forecasts havealready been upgraded during this year and the Company's performance continuesto be significantly ahead of budget. Jarvis continues to attract increasing numbers of retail clients and has alsohad great success during the year in signing agreements to provide settlementand financial administration services to other investment firms. Jarvis now provides a variety of such services to more than 30 firms. The Company isbenefiting from increasing trade volume with these firms and their increasingclient numbers now that the majority of the set-up costs of the settlementservice have been met. Jarvis will issue further details of new clientagreements in due course. Jarvis has become a member of PLUS Markets to provide further scope fordevelopment of the business. Jarvis has also entered into a white labelpartnership with Saxo Bank AS to provide its own CFD platform to retail clients.Additionally the Company is now able to provide a CFD platform to itsintroducing broker and commercial clients. The Company looks forward with confidence to the remainder of 2007 and into2008. The Board anticipates reporting record results and an increased dividend.Whilst the current market volatility has had some impact on the retail business, this has been compensated for by the increased numbers and activity ofcommercial clients and the upturn in UK interest rates. Andrew Grant, Chairman, commented: "We are pleased with the performance of theCompany so far and look forward to the remainder of the financial year withconfidence" For further Information: Jarvis Securities plc Tel: 0870 224 1111Andrew Grant Daniel Stewart & Company plc Tel: 020 7776 6550(Nominated Adviser)Stewart Dick This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Jarvis Securities