Mobile app / live chat rollout and trading update

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

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 Amit Tauman (CEO)	[phone]
Beaumont Cornish Limited (Nominated Adviser) Michael Cornish Roland Cornish	[phone]
Peterhouse Capital Limited (Broker) Eran Zucker Lucy Williams Rose Greensmith	[phone]

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.

 

END