Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

ADVFN gets cryptocurrency boost as private investors shun equities

"Cryptocurrency information for the likes of Bitcoin and Ethereum is a new category of financial information"
bitcoin
A new financial information category for ADVFN

Cryptocurrencies have given a handy boost to financial information provider ADVFN PLC (LON:AFN).

“The timing of the [end-2017] Bitcoin bubble was fortunate as private investor interest in equities has been at an all-time low,” said Clem Chambers, chief executive.

“It is perverse but our business in equities flourishes best when the market crashes and our customers are hurt by corrections and slumps,” he added.

“Happily, we were able to sail past these equity doldrums powered by a compensating tailwind of Cryptocurrency information traffic.

"Cryptocurrency information for the likes of Bitcoin and Ethereum is a new category of financial information and one we are excited about," he added.

Revenues for the year to June rose by 12% to £9.2mln, while profits climbed to £442,000 (£214,000).

 

 

View full AFN profile View Profile

ADVFN Timeline

Related Articles

ipad
September 19 2018
“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”
Apollo 11
February 22 2018
Immersive VR, a technology company focused on the education space, was the first company Sure backed
Mobile users holding phones up
September 05 2018
The mobile advertiser is placing itself at the forefront of the digital revolution as companies and brands increasingly look to the web as the next forefront of advertising

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use