The company income fell to £2.3 million during the sixth month period ending in December 2023.
ADVFN reduces losses, but that's not enough for shareholders and investors.
Despite a
similar report from the financial markets’ website operator ADVFN (LSE: AFN)
sparking euphoria among stock investors at the end of December, this time their reaction
was quite the opposite.
Following
the publication of financial results for the second half of 2023, during which
the company's revenues and gross profit continued declining, its LSE valuation dropped to its lowest levels in a month.
Revenues Decline as the
Company Seeks Cost Reductions
According
to the unaudited interim report for the six months ended 31 December 2024, or
the first half of the fiscal year 2024 (FY24), the company's revenues amounted
to £2.3 million, sliding from £3 million reported in the same period the year
before.
"The
decrease in revenues was primarily attributable to continued adverse market
conditions and the discontinuation of company units which no longer supported
our business goals," the company commented in the official statement.
Although
the company is currently focusing on cost reduction, which has been partially
successful (a drop from £196,000 to £109,000), it was not significant enough to
translate into a higher gross profit. This fell from £2.9 million to £2.2
million annually.
"We
have continued to reduce costs and the cash burn rate, and we've maintained a
healthy cash balance of £4.7 million at the Period end, aligning with the
financial objectives outlined in previous reports," ADVFN added.
Eventually,
the total net loss for the reported period amounted to £531,000, less than
£622,000 from the previous year, but this was not comforting news for
investors. In reaction to Thursday's report, ADVFN shares on the LSE fell 4%, testing the 12 pence level, the lowest in a month.
Since the
beginning of the year, they have fallen almost 30%, moving close to pandemic
lows.
Source: ADVFN
On a
positive note, it's worth highlighting that the total value of assets under
the company's management increased. Compared to H1 FY23, those figures rose from £3.1
million to £6.4 million.
ADVFN Visits Italy
Seeking revenue sources, ADVFN announced in February of this year that it had launched a new website in the Italian market aimed at local investors. This was made possible
through a new partnership with FinancialLounge.
"I
wish to highlight our recent partnership with Prodesfin S.R.L, who own and
operate the financial website Financiallounge.com in Italy," Amit Tauman,
the CEO of ADVFN, commented in the recent financial report.
Italy is a
large market, home to 60 million people. Globally, over 85 million people speak
Italian.
Despite a
similar report from the financial markets’ website operator ADVFN (LSE: AFN)
sparking euphoria among stock investors at the end of December, this time their reaction
was quite the opposite.
Following
the publication of financial results for the second half of 2023, during which
the company's revenues and gross profit continued declining, its LSE valuation dropped to its lowest levels in a month.
Revenues Decline as the
Company Seeks Cost Reductions
According
to the unaudited interim report for the six months ended 31 December 2024, or
the first half of the fiscal year 2024 (FY24), the company's revenues amounted
to £2.3 million, sliding from £3 million reported in the same period the year
before.
"The
decrease in revenues was primarily attributable to continued adverse market
conditions and the discontinuation of company units which no longer supported
our business goals," the company commented in the official statement.
Although
the company is currently focusing on cost reduction, which has been partially
successful (a drop from £196,000 to £109,000), it was not significant enough to
translate into a higher gross profit. This fell from £2.9 million to £2.2
million annually.
"We
have continued to reduce costs and the cash burn rate, and we've maintained a
healthy cash balance of £4.7 million at the Period end, aligning with the
financial objectives outlined in previous reports," ADVFN added.
Eventually,
the total net loss for the reported period amounted to £531,000, less than
£622,000 from the previous year, but this was not comforting news for
investors. In reaction to Thursday's report, ADVFN shares on the LSE fell 4%, testing the 12 pence level, the lowest in a month.
Since the
beginning of the year, they have fallen almost 30%, moving close to pandemic
lows.
Source: ADVFN
On a
positive note, it's worth highlighting that the total value of assets under
the company's management increased. Compared to H1 FY23, those figures rose from £3.1
million to £6.4 million.
ADVFN Visits Italy
Seeking revenue sources, ADVFN announced in February of this year that it had launched a new website in the Italian market aimed at local investors. This was made possible
through a new partnership with FinancialLounge.
"I
wish to highlight our recent partnership with Prodesfin S.R.L, who own and
operate the financial website Financiallounge.com in Italy," Amit Tauman,
the CEO of ADVFN, commented in the recent financial report.
Italy is a
large market, home to 60 million people. Globally, over 85 million people speak
Italian.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
73% of Young Investors Say Traditional Wealth Building Is Broken – Here’s How They Trade Instead
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
