Jarvis Securities gains on contract win

10th Jun 2009 11:21

Shares in Jarvis Securities gained on news that the stockbroker secured a five year contract with one of the UK's largest Building Societies to provide a complete white-labelled solution for their share dealing services.Jarvis said the deal will have a material positive impact on the company's financial performance in 2010 and is anticipated to increase assets under administration by 19%. "We are delighted to be working with such a prestigious Building Society with a strong and long-standing brand in the stockbroking market," Andrew Grant, chairman and chief executive, said."Continued contract wins together with the significant upsurge in our own retail trade volumes and the improving outlook for interest rates support our cautiously confident outlook for Jarvis for the remainder of this year and next."