Share takes market share as IPOs and new pricing attract punters

11th Mar 2014 13:09

AIM-listed stockbroker Share impressed with annual results showing profits up 157 per cent and encouraging growth in its market share. As well as the rising tide of the stock market, the company's competitive improvement has been put down to "refocusing" undertaken the year before with a simple flat rate fee structure offered to customers, with no airline-style add-on fees. Said Chief Executive Richard Stone: "Our pricing is now highly competitive as other business models have been forced to expose the high value-related charges on which they have built their success. The challenge now is to ensure our message is heard as widely as possible."The message seems to be spreading, with market share up 5% to 7.2%, and Stone has set growth of the customer base, revenues and profits as his main targets for 2014. "We will do this by attracting new customers, identifying new partners and continuing to focus heavily on satisfying our existing customers."2014 has started promisingly, with a good flow of initial public offerings in the wake of the Royal Mail flotation last autumn that continue to spur investor interest in the market.In the first two months of 2014 Stone pointed to the number of new Share Accounts, ISAs and SIPPs opened by customers having increased by 34% on the same two months in 2013. "This increased level of account opening activity, and of activity within those accounts, means we believe we can look forward to the rest of 2014 with confidence." Shares in Share jumped 14.7% to 33.25p.OH