PLUS throws down the gauntlet to LSE
Simon Brickles, chief executive of PLUS, says that his business will increase its challenge to the ‘monopoly’ held by the traditional stock exchange.
Brickles pledge to the nation’s entrepreneurs came as the market formally releases its annual report for 2006.
The figures show that the market increased its turnover to £2.17m, which was a rise of nearly 50% from 2005 when the company made £1.45m.
Loss for the year was £1.33m from £1.36m in 2005, loss per share was 99 pence compared to £1.40 in 2005 a decrease of 29%.
The market saw over half a million trades, worth a total of nearly £3bn, representing over 5.75 billion shares.
Simon Brickles, chief executive officer, said: “With improving market share, a strengthened balance sheet post year end and a first rate team, we have built a sound base for increasing our stock coverage and launching a wider challenge to the traditional exchange monopoly."
PLUS Markets Group placed itself on the market raising £25m on December 13, 2006.
It has also applied to the FSA to become a ‘recognised’ investment exchange this month.
© Crimson Business Ltd. 2007
