Aquis Exchange share price soars on early morning trading

Aquis Exchange announced on Friday that it expected to make a profit in 2020, the company’s first time doing so, as revenue is forecast to grow above expectations.

The trading exchange expects revenue to be at least £11m, which would be nearly a 60% increase from £6.9m in 2019. 

Revenue growth has been driven in part by continued high levels of trading on Aquis Exchange alongside strong technology sales, with a number of clients having renewed licensing contracts at the end of the year. 

Therefore, Aquis Exchange expects to record its first ever profit, compared to a loss of £1.1m for 2019.

The company’s share price shot up on Friday’s morning trade by 8.65% to a value of 565p per share. It is a continuation of the share’s bright start to the year which began with a valuation of 470p per share. 

Alasdair Haynes, chief executive of Aquis Exchange, outlined the company’s preparedness for Brexit and the coronavirus pandemic.

“We have long been well-prepared for Brexit-related changes and are pleased to report the successful and seamless continuation of our operations in the UK and the transfer of our European trading business to the Paris office.”

“Despite the continued pandemic-related restrictions seen across our markets, we continue to achieve substantial operational progress and have beaten market expectations. Looking forward to 2021, we remain confident in our ability to execute against our growth strategy.”

Aquis Exchange was admitted to the AIM in 2012 and has since become one of the largest trading companies in Europe.

Aquis Exchange PLC is an exchange services group, which operates pan-European cash equities trading businesses, growth and regulated primary markets and develops/licenses exchange software to third parties.