TradeLabs Plc

April 06, 2009 02:00 ET

Interim Results and Trading Update


                                                 TradeLabs PLC
                         Results for the period 27 August 2008 (Date of incorporation)

                                    to 31 December 2008 and Trading Update

Chief Executive's Statement

The  Directors of TradeLabs are pleased to provide shareholders with their results to 31 December  2008  and  a
trading update ahead of the Company's year end 31 March 2009.

TradeLabs  PLC ("TradeLabs" or "the Company") was admitted to trading onto the PLUS-quoted market on 9  January
2009 (TIDM:TLAP.PL).

The  Company's proprietary trading desk, which commenced trading on 1st October 2008 declared a profit for  the
period  ending  11 November 2008 of £496,000.  Whilst market conditions have been generally difficult  for  the
financial community, TradeLabs have benefitted from the increased volatility in the futures markets in which it
operates  and  continues  to trade well and in line with the Company's expectations. The  profits  as  at  31st
December  2008 are £661,000. The Company also declared a maiden dividend of 0.1p per share which  was  paid  to
shareholders on 15 March 2009. The Company intends to announce its position on final dividends at the  time  of
the year end results.

The Company announced that the acquisition of an additional four algorithms for trading on the DAX and the FTSE
was successfully completed and the algorithms have been deployed into trading as of 1 April 2009; the DAX Trend
Limit, the  DAX  Scalper,  the  FTSE  Trend Limit and the FTSE Scalper. These  products  were  acquired  from
TraderTools FZ LLC for a consideration of £3m from existing cash resources.

With  this  acquisition  the  Company also acquired an additional subscriber base of 900 subscribers paying
US$99.00  per  month.  This, along with 60 new subscribers gained in the first quarter of 2009,  increases  the
total number of subscribers from 700 to 1,680, marking an increase of 133% in a 5 month period.

The  Company  also  announced  that it changed its year end from 31 December to 31  March  and  will  therefore
announce  their  audited  results to 31 March 2009 as soon as possible but no later  than  31  August  2009  as
required by the PLUS Rules.

Niraj Goel
Chief Executive Officer

The Directors of TradeLabs PLC accept responsibility for the contents of this announcement.

                                             Tradelabs Plc, Jersey

                                              Statement of Income

                 For the period from August 27, 2008 (date of inception) to December 31, 2008

                                                                                     Period ended
                                                                                      31 December
Revenue from trading of futures contracts                                                     780
Revenue from subscription fees                                                                135
Total revenue                                                                                 915

Commission and other direct charges                                                          (128)
Gross profit                                                                                  787

General, administrative and legal expenses                                                   (186)
Operating profit                                                                              601

Finance costs                                                                                 (21)
Exchange gain                                                                                  81
Profit for the period                                                                         661

Attributable to:
Equity holders of the parent                                                                  661

Earnings per share
Basic and diluted                                                                        0.003581

                                             Tradelabs Plc, Jersey

                                            Condensed Balance Sheet

                                            As at December 31, 2008

                                                                                       31 December
Non-current assets
Intangible assets                                                                            2,000

Current Assets
Trade and other receivables                                                                    224
Cash and cash equivalents                                                                    6,360
TOTAL ASSETS                                                                                 8,584

Equity attributable to holders of the parent
Share capital                                                                                6,000
Retained earnings                                                                              661
Total equity                                                                                 6,661

Non-current liabilities
Provisions                                                                                       2

Current liabilities
Other payables                                                                                 193
Due to related parties                                                                       1,728
Total liabilities                                                                            1,923

Total equity and liabilities                                                                 8,584

We  approve  these financial statements and confirm that we are responsible for them, including  selecting  the
accounting  policies and making the judgments underlying them. We also confirm that we have made available  all
relevant accounting records and information for their compilation.

These financial statements were approved on March 31, 2009.

These  figures are an abridged version of the Review of the interim Financial Information as provided by Mazars
Chartered Accountants

Niraj Goel
Board of Directors


TradeLabs Plc
Marcus Yeoman                            Tel: 07970 028442

Investor Relations at the Company:
Yana Slatina                             Tel: 00 65 93727605

St Helen's Capital Plc                   Tel: +44 (0)20 7628 5582
Barry Hocken/DuncanVasey

Hansard Group
Justine James/John Bick                  Tel: +44 (0) 20 72451100

Notes to Editors:

TradeLabs  PLC  admitted to trading on PLUS on 9th January 2009.  The business was incorporated  on  27  August
2008,  as  a  technology-based business which owns and exploits fully automated trading software for securities
trading  and also runs its own proprietary desk.  The Company's day to day operations are run from premises  in
Dubai.  On  1st October 2008 the Company acquired four trading algorithms together with income receivable  from
subscribers to the Algorithms from TraderTools.

Contact Information

  • TradeLabs Plc