Share PLC to miss full-year expectations amid subdued dealing levels

2nd Nov 2015 10:56

(ShareCast News) - Share PLC said a continuation of current subdued dealing levels for the rest of the year will likely lead to results for 2015 being below market expectations.The company, which operates independent retail stockbroker The Share Centre Limited, said dealing activity in October continued to be weak, undermined by concerns over China and global growth, as well as uncertainty over the timing of a rate hike by the Federal Reserve.As a result, Share said it has yet to see the usual seasonal pick-up in dealing volumes after the quieter summer months.The company said revenues in the third quarter showed a 1% drop year-on-year, reflecting stock market volatility and subdued investor activity. Still, it pointed out that this was a stronger performance than its peer group, whose collective revenues fell by 11% in the same period.Looking further ahead, Share said prospects remain positive, noting that it is in advanced discussions on a number of partnership opportunities, which could be significant to the group's future trading performance in 2016 and beyond.At 1103 GMT, shares were down 6.8% at 28.90p.