ADVFN.COM PLC
9 November 2001
Trading Update
ADVFN announce update on current trading conditions
ADVFN.COM plc, ('ADVFN'), the UK's leading provider of financial information,
today announces the following trading update.
During August 2001 ADVFN introduced new products and revised pricing levels to
its UK website. This was a crucial moment for ADVFN as it represented a
culmination of significant change in our pricing, the introduction of a new
more sophisticated offering and the integration of the UK-Invest site into
ADVFN.
We have been delighted with the uptake of our new service levels and are pleased
to report that both the number of subscribers and our subscription income have
exceeded forecasts. In October 2001 ADVFN's subscription revenue cleared the
£1,000,000 a year run rate, up 67% since the end of July 2001. This substantial
increase underpins our continued belief that subscription from web services is
the correct business model.
We can report that in September, the first full month of operation under the new
offering ADVFN was No1 provider of UK Share Information according to Hitwise.com
which tracks 3 million UK users each day.
ADVFN represented 27% of market share and audience. This is almost a third more
market share than our nearest rival Interactive Investor and over 250% more than
third place rival Yahoo Finance.
Our advertising/page impression numbers also continue to exceed our
expectations. ABC Audit Bureau's audited figures for June 2001 have shown we
delivered over 43 million page impressions.
We are conscious that traffic is no longer perceived as the be all and end all
of business model measurement but advertising remains an important part of
revenue strategy and this has been building well this year with the creation of
an in house sales team. This progress was halted temporarily by the September
11th World Trade Centre disaster, but we are now seeing signs of a return to
advertising growth. ADVFN has proven itself as a powerful medium for
advertisers, particularly in financial services. Successful campaigns on ADVFN
have meant most advertisers remain as repeat customers. We are therefore very
encouraged by the future of advertising revenues, which already contribute
significant revenue. October advertising proved to be our strongest month to
date and signs are very encouraging for the Xmas period.
Our French website(advfn.fr) and our Freeserve venture(www.freeserve.advfn.com)
have both produced increased traffic and importantly income. Success Events
continues to be the leader in its sector and is highly profitable.
Our full launch of 3DV8 and subsequent partnership announcements mean that this
venture is now generating income streams.
During the period we have kept stringent control over our costs and are
continuing to reduce our monthly outgoings.
For further information please contact:
Advfn.com plc
Michael Boydell, Managing Director 0207 070 0947
Buchanan Communications
Jeremy Garcia 020 7466 5000
Notes to Editors:
About ADVFN (www.advfn.com)
ADVFN is a leading provider of professional quality shares data to private
investors from its web sites at www.advfn.com, www.advfn.fr, its WAP services
(http://mobile.advfn.com/wap/) and its interactive television channels with
Telewest. The company also provides investment education services through its
subsidiary, Success Events Limited (www.success-events.com).
Since going live in the last quarter of 1999, ADVFN has quickly become a
leader in its market and recently announced that its web site had achieved
over 40 million page impressions a month. Its rapidly growing user base has
one of the highest demographics of any media.
Its recently formed B2B division covering Investor Relations solutions, client
competitor aware products, fundamental data and co-branded products can now be
seen on high profile web sites including Orange, Friends Provident, and
Accountancy Age.
ADVFN's American subsidiary, 3DV8 inc. recently launched its proprietary 3D
visual data mining application throughout North America and into UK. (for more
details visit www.3DV8.com). The company has already established itself in
this niche market place and has formed a number of strategic alliances.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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