Trading Statement

RNS Number : 9411K

Baydonhill PLC

28 April 2010

 

28 April 2010

Baydonhill plc

("Baydonhill" or the "Company")

Trading Update

Baydonhill (AIM: BHL), one of the UK's leading foreign exchange specialists, is pleased to provide the following trading update, ahead of the announcement of its final results for the year ended 31 March 2010, which the directors expect will be ready for release in August 2010.

The Company is pleased to announce that it expects to report year on year revenue growth (net commission earned) of approximately 30 per cent. to £3.5 million.  In the six months to the 31 March 2010, Baydonhill achieved break even at EBITDA level (before any non-cash charges for share based payments). This was achieved through the continued strong revenue growth in the Corporate Division and a cost restructuring process, which was implemented in September 2009.

The Company believes that the strong, ongoing growth of the Corporate Division, combined with an improving revenue stream from the Private Client Division, will allow for continued growth and consistent profitability.

Wayne Mitchell, Chief Executive Officer of Baydonhill, commented:

"Following significant investment in developing the Corporate Division, the Board is pleased with the progress in the second half of 2010 and with the start to the new financial year. We believe we are well positioned to maintain strong growth."

Enquiries:

Baydonhill Plc

Wayne Mitchell/Sarah Collis

Tel: [phone]

Merchant John East Securities Limited

Bidhi Bhoma/Simon Clements

Tel: [phone]

 

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