REG - ADVFN PLC - Mobile app / live chat rollout and trading update

ADVFNAnnouncement

24/10/2024 07:00

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RNS Number : 3819J  ADVFN PLC  24 October 2024

For immediate release

24 October 2024

 ADVFN plc

("ADVFN" or the "Company")

Mobile App / Live Chat rollout and trading update

 

The Board of ADVFN is pleased to provide an update on the current development
of the ADVFN investor platform ("Platform"). As reported earlier this year,
the Company has been making a number of enhancements to the Platform, in line
with ADVFN's strategic aim to position the Company as a cutting-edge
technology company within the financial space and expected that the Company's
new mobile app would be scheduled for release by the end of Q3 this year.

 

The phased rollout of the new mobile application has now commenced. The
applications have not yet reached 100% of the platform user base as the launch
is being phased to gather valuable feedback at each stage of rollout. This
phased approach allows ADVFN to refine and enhance the user experience before
full deployment.

 

As part of a new initiative, ADVFN has also introduced a soft launch of its
Live Chat platform, providing real-time communication features to the ADVFN
community. Both the new apps and Live Chat are now in the feedback and rollout
phase, and ADVFN will continue to make adjustments based on user input.

 

Further updates will be provided as the rollout progresses, with a full-scale
launch planned in the near future.

 

The Board expects to publish the audited results for the year ended June 2024
towards the end of November. Trading in the second half to June 2024 remained
in line with trading in the first half. In the current year, there has been no
uplift in trading and the results for the quarter ended September  2024 are
broadly in line with the comparable period in 2023. General market conditions
remain depressed by among other factors, uncertainty around the imminent US
election, and in the UK, the uncertainty ahead of the new Government's budget.
The Company's focus has been on exploring potential revenue and earnings
enhancing opportunities as well as implementing cost reductions where
appropriate.

 

A copy of this announcement is available from the Company's website at
www.advfnplc.com (http://www.advfnplc.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018. The person who arranged for the release
of this announcement on behalf of the Company was Amit Tauman, Director.

 

For further information please contact:

 ADVFN plc                                     +44 (0) 203 8794 460

 Amit Tauman (CEO)
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 207 628 3396

 Michael Cornish

 Roland Cornish
 Peterhouse Capital Limited (Broker)           +44 (0) 207 469 0930

 Eran Zucker

 Lucy Williams

 Rose Greensmith

 

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

 

 

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