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Maria Liw
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Continued increase in revenue and earnings for NeoNet

NeoNet’s growth trend has continued in the third quarter, with revenues increasing by 46% to SEK 91.4 m (62.6) compared with the same quarter of 2005. EBITDA increased by 85% to SEK 19.4 m (10.5) and earnings before tax were SEK 10.0 m (1.5).

“NeoNet’s growth during the year is the result of several factors, the most important being our trading platform which meets clients’ stringent demands for speed, stability and functionality. Our focused sales efforts have led to a steady increase in the number of active clients during 2005 and 2006, which together with growth in direct market trading and the exchanges’ increased turnover have contributed to our good earnings,” says Simon Nathanson, President and CEO of NeoNet.

“During 2006 we have seen an increasing interest in NeoNet’s services among major institutional investors in both Europe and the USA. These clients set great store by the fact that NeoNet is a neutral player which does not engage in proprietary trading but only trades on behalf of clients, which eliminates the risk of conflicts of interest,” concludes Simon Nathanson.