PLUS Markets Group plc (“PMG” or the “Company”) reports its interim results for the six months to 30 June 2009.
Highlights
- PLUS H1 volumes at over 36 billion shares traded, up more than 200% on previous year;
- Capital markets offering maintaining momentum in difficult market conditions, with twelve new companies – seven of which are international - admitted to the PLUS market in the first half;
- Revenues down slightly to £1.49m (2008 - £1.60m);
- Administrative expenses amounted to £7.38 million (2008 - £4.11 million) including £3.15 million in respect of expenditure on legal costs, the setting-up of PLUS-Europe, trading platform development costs and strategic initiatives (2008 - £0.93 million);
- Loss before depreciation, amortisation, impairment and interest received of £5.85 million (2008 - £2.74 million), after share-based payment credit (2008 – charge); and
- The Group has no debt and retained a cash balance of £10.26 million (2008 - £19.00 million).
Post balance sheet events:
- PLUS commenced trading in all AIM securities on 21 August 2009; and
- Successful investment in the Company by Amara Dhari Investments Limited (“Amara Dhari”), a syndicate of investors from the Middle East, raising £5 million before expenses, to strengthen the balance sheet and further the company’s international expansion.
Commenting on the interim results, Chief Executive Officer Simon Brickles said:
“Having commenced trading in AIM securities towards the end of August, PLUS is now able to offer complete UK stock coverage on its trading platform. This includes the whole small and mid-cap market where PLUS has a very strong comparative advantage. Although it is early days, PLUS is pleased with initial volumes especially in non-order book stocks. We intend to build further on this liquidity and attract listings on the basis of our unique market position. This ambition is supported by a strengthened balance sheet and a broader international focus”
Market Share For All UK Equities - January To August 2009