Trading Update & 2nd Interim

RNS Number : 3557K

Jarvis Securities plc

19 April 2010

 



19 April 2010

Jarvis Securities plc

("Jarvis" or "the Company")

Trading Update and 2nd Interim Dividend Declaration for 2010

Jarvis is pleased to report that the significant growth in its retail broking business has continued in the first quarter of 2010.

-     Trade volumes for Q1 2010 are 71% higher than Q1 2009

-     Active client numbers are 44% up on 31 March 2009

-     Client cash balances are 77% higher than the end of Q1 2009

-     Total assets under administration are 225% of the 31 March 2009 level

-     ISA subscriptions for 2009/2010 were more than double any prior tax year

Andrew Grant, Chairman and Chief Executive, commented:

"Our client acquisition rates and trade volumes are up considerably on 2009, which itself was a record year.  The business is growing very quickly and we have also managed to improve our service levels and product offerings over this period.

We have also noted a significant improvement in deposit rates for cash since the start of the year and as older deposits mature we will see strong growth in our interest income from the current depressed levels."

Further, the Directors have declared a second interim dividend of 2 pence per ordinary share, payable on 11 June 2010.  The record date shall be 14 May 2010.

Enquiries:

Jarvis Securities plc    Tel: [phone]

Andrew Grant

Mathew Edmett

Arbuthnot Securities    Tel: [phone]

Alasdair Younie

Notes:

Jarvis Securities plc is the holding company for Jarvis Investment Management Limited (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 ISA manager. Jarvis has more than 44,000 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 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.

 

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