Jarvis Securities plc
13 November 2007
JARVIS SECURITIES PLC
('Jarvis' or 'the Company')
Trading Update
Jarvis continues to trade strongly and the Board expects the full year results
for 2007 to be ahead of the current market expectation. Analyst forecasts have
already been upgraded during this year and the Company's performance continues
to be significantly ahead of budget.
Jarvis continues to attract increasing numbers of retail clients and has also
had great success during the year in signing agreements to provide settlement
and financial administration services to other investment firms. Jarvis now
provides a variety of such services to more than 30 firms. The Company is
benefiting from increasing trade volume with these firms and their increasing
client numbers now that the majority of the set-up costs of the settlement
service have been met. Jarvis will issue further details of new client
agreements in due course.
Jarvis has become a member of PLUS Markets to provide further scope for
development of the business. Jarvis has also entered into a white label
partnership 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 its
introducing broker and commercial clients.
The Company looks forward with confidence to the remainder of 2007 and into
2008. 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 of
commercial clients and the upturn in UK interest rates.
Andrew Grant, Chairman, commented: 'We are pleased with the performance of the
Company so far and look forward to the remainder of the financial year with
confidence'
For further Information:
Jarvis Securities plc Tel: 0870 224 1111
Andrew 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 Exchange