Jarvis Securities plc
04 April 2008
Jarvis Securities plc
('Jarvis' or 'the Company')
Q1 Trading Update and Contract Wins
Jarvis is pleased to announce that it has continued to perform strongly during
the first quarter of 2008. Despite the caveats raised in our last Annual
Report, the optimism of the Board that 2008 would be another promising year for
the Company has been borne out during the first three months of trading.
Trade volumes are up more than 6% on the same period in 2007 and commercial and
retail client numbers continue to grow. In addition, pre-tax profit is
currently running ahead of market expectation.
Jarvis is also able to announce that it has recently agreed and signed three new
commercial contracts for settlement services. The firms involved are currently
at various stages of regulatory approval and preparation to commence operations
and therefore further details will be issued in due course.
Commenting, Andrew Grant the Chairman of Jarvis said:
'I am very pleased that our confidence for 2008 has been well founded so far.
There are clearly many challenges for financial businesses at the moment but
our outsourced services remain attractive to potential customers, particularly
those looking to gain efficiencies and reduce costs. Volatility also benefits
Jarvis with increased trading volumes and we have also gained from the current
credit environment. Jarvis has no debt and no exposure to investment instruments
and we have been able to obtain deposit rates significantly above base rate
because of the current high demand for short-term cash in the market. I
continue to look forward with cautious optimism.'
Enquiries:
Jarvis Securities plc
Mathew Edmett Tel: 0870 224 1111
Daniel Stewart & Company plc
Lindsay Mair/Tessa Smith Tel: 020 7776 6550
Notes:
Jarvis Securities plc is the holding company for Jarvis Investment Management
plc (AIM: JIM.L) a stock broking company and outsourced service provider for
bespoke tailored financial administration. Jarvis was established in 1984 and is
a member of the London Stock Exchange; a broker dealer member of PLUS Markets,
authorised and regulated by the Financial Services Authority and an HM Revenue
& Customs approved PEP and ISA manager. Jarvis has more than 30,000 retail
clients and a growing number of institutional clients. As well as normal retail
broking Jarvis provides cost effective and flexible share trading facilities
within PEP, ISA and SIPP wrappers.
Jarvis provides outsourced and partnered financial administration services to a
number of third party organisations. These organisations include advisers,
stockbrokers, banks and fund managers. Jarvis can tailor its administration
processes to the requirements of each organisation and has a strong reputation
for flexibility and cost-effectiveness.
This information is provided by RNS
The company news service from the London Stock Exchange
*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.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.