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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"
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).



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