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Wednesday 26 August, 2009

Dealogic (Holdings)

Trading Statement

RNS Number : 0049Y
Dealogic (Holdings) PLC
25 August 2009
 



DEALOGIC (HOLDINGS) PLC

TRADING STATEMENT


25 August 2009


Dealogic (Holdings) plc the provider of software, communications and information products to the global capital markets, today provides the following update on trading to this point in 2009.


At the time of the preliminary announcement in March, we said we had no long term view on whether the bottom of the credit crisis had been reached or when the market turmoil would end. We continue, however, to believe in the prospects for the business due to the expanding breadth of our product line and our unique relationship with our clients. Our subscription revenues have held up well against a backdrop of continued volatility in the markets in which we operate. Additionally, following several very quiet months earlier in the year, the primary equity capital markets experienced a substantial increase in the number of transactions in the second quarter, continuing into July, which has benefited our transaction revenues.


During this period Dealogic has continued to invest in the business and remain responsive to meeting our clients' changing needs as the environment in which they operate continues to evolve.


The increased levels of activity have contributed positively to the Company's trading performance over the past few months and, consequently, we now expect that results for the full year will exceed the current analyst's forecast. Revenue for the first half of 2009 will be broadly in line with that in the first half of 2008 while profit before tax, with the added benefit of favourable movements in exchange rates, will be approximately 20% ahead of 2008 over the same period. 


Despite the recent strong performance, in view of the uncertainty as to future levels of market activity, we consider it sensible to remain cautious about the remainder of the year.


Dealogic expects to announce interim results for 2009 on 22 September 2009.


ENQUIRIES




Dealogic (Holdings) plc


Jonathan Bradshaw

+44 20 7379 5650

Company Secretary




JP Morgan Cazenove (Nominated Advisor)


Andrew Hodgkin

+44 20 7588 2828



This information is provided by RNS
The company news service from the London Stock Exchange
 
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