An online trading provider based in London recently provided a trading update for its fiscal third quarter of FY2025, covering the period from October to December 2024. The update indicated that the company is on schedule to achieve an annual net operating income consistent with earlier projections. Additionally, there is confidence in maintaining a cost guidance of approximately £225 million, which excludes any variable pay and non-recurring expenses.
In late November, there was a significant drop of 13% in the company’s shares following the release of its latest financial results and outlook. The guidance suggested that revenues for the second half of FY2025, which concludes on March 31, 2025, are expected to be substantially lower than the first half of the fiscal year. The first half had yielded revenue of £177.4 million, notably less than the £210.2 million reported in the same period the prior year.
In the brief trading update issued, it was confirmed that the group remains aligned with previous income expectations and holds firm on the cost forecasts. This outlook is essential as it represents the company’s strategy to navigate challenging market conditions while striving to uphold service quality and maintain financial discipline.
Overall, despite previous setbacks reflected in stock performance and revenue projections, the latest update offers a sense of stability and affirmations about the company’s operational goals and fiscal prudence. The next steps will be closely monitored as the company moves forward in the remaining fiscal year, particularly in how it will tackle the lower revenue expectations while adhering to its cost management initiatives.