- Aquis Exchange saw annual losses widened as increased revenue was offset by costs of listing on the London Stock Exchange in June last year and a ramp up in investment spend.

For the year ended 31 December 2018, pre-tax losses widened to £3.66m from £3.27m a year earlier, but revenue doubled to £4.0m.

The company incurred exceptional costs of £1.01m relating to its IPO.

Revenues growth was boosted by increased exchange revenue on a rise in members' subscriptions, higher trading levels and new revenue from technology licensing, but that was offset by additional costs as the company continued to invest in personnel and technological resources.

'2018 was a transformational year for Aquis. Revenue has doubled in comparison to the prior year, reaching £4.0 million, and we finished the period with close to a 4% market share of overall pan-European continuous trading,' said Alasdair Haynes, Chief Executive Officer of Aquis.

'The exchange has grown both its number of trading members and the average value of monthly subscriptions and, alongside this, interest in Aquis' world-class exchange trading and surveillance technology continues to increase. Our IPO has accelerated us in our journey to transform the European equity trading landscape and provided a secure platform for future growth.'

'Despite the near term challenges presented by Brexit, we are confident we are well positioned for the period ahead, particularly given that we now have a presence in France established to allow uninterrupted service in any eventuality.'

At 8:49am: [LON:AQX] Aquis Exchange Plc Ord 10p share price was +10p at 582.5p

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