Aquis Exchange ends year ahead of expectations

8th Jan 2019 11:51

(Sharecast News) - Exchange services group Aquis Exchange updated the market on its trading on Tuesday, confirming that it traded ahead of market expectations for the year ended 31 December, and expected to deliver revenues of £4m for the financial year.The AIM-traded firm said that would represent a 100% increase on the prior year.It also anticipated making further progress during 2019, and expected to perform in line with expectations, although it cautioned that during the first quarter its customers could face a "more challenging" external environment due to Brexit uncertainty.The company also announced that it had appointed electronics engineer and "serial entrepreneur" Glenn Collinson to its board, as an independent non-executive director, subject to FCA approval.It said Collinson started his career at Racal, and worked for Motorola and Texas Instruments before co-founding Cambridge Silicon Radio in 1998.There, he served as an executive director and reportedly helped to grow the company from a concept to a $3bn market capitalisation entity in 2006, and one of the biggest players in the Bluetooth market.Since leaving CSR, he had held a number of executive and non-executive directorships in UK and French companies - both public and private - which specialised in technology.Collinson is a member of the Institute of Engineering and Technology, and holds an MSc in electronics as well as an MBA from Cranfield University."I am very pleased to welcome Glenn to the board of Aquis at this important time in our development as a public company," said the board's chair Niki Beattie."His background as an engineer and his years of developing and marketing technology products will be invaluable to the business."Crucial too is the first-hand experience he brings of running companies in both the UK and France, the two countries in which Aquis Exchange has a physical presence."Glenn Collinson himself added that he was "very excited" to be joining Aquis Exchange."I think the space where financial markets and technology meet will continue to be a huge growth sector and an area where there is real scope for transformative innovation."I look forward to being part of that and helping Aquis continue its journey towards becoming the leading exchange services group," Collinson said.Aquis Exchange said it expected to announce its audited results for the 2018 financial year in early April.