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J-Trader Users
- Thread starter m_c_a98
- Start date
London, Jan. 21 (Bloomberg) -- Patsystems Plc, the
unprofitable U.K. maker of derivatives-trading software with 31
clients, said it wants existing customers to pay more as the
company seeks to stem losses. Its shares fell 9.1 percent.
The company, whose loss widened in the three months ended
Sept. 30, also said it will spend about 1.1 million pounds ($1.6
million) redesigning its technology to expand its range.
Patsystems, which has lost about 90 percent of the 138
million pounds in market value it had when it first sold shares in
March 2000, began a review of operations last year after it said
annual profit would lag forecasts. The company has sold its
products too cheaply and paid salespeople too much, Chief
Executive Officer David Jones said in an interview.
``The previous management was trying to sell the product
anywhere and to anyone,'' Jones said. ``We've now got a more
accurate view of our market.''
Shares in Patsystems, which plunged 90 percent in 2001,
dropped 1 penny to 10p.
unprofitable U.K. maker of derivatives-trading software with 31
clients, said it wants existing customers to pay more as the
company seeks to stem losses. Its shares fell 9.1 percent.
The company, whose loss widened in the three months ended
Sept. 30, also said it will spend about 1.1 million pounds ($1.6
million) redesigning its technology to expand its range.
Patsystems, which has lost about 90 percent of the 138
million pounds in market value it had when it first sold shares in
March 2000, began a review of operations last year after it said
annual profit would lag forecasts. The company has sold its
products too cheaply and paid salespeople too much, Chief
Executive Officer David Jones said in an interview.
``The previous management was trying to sell the product
anywhere and to anyone,'' Jones said. ``We've now got a more
accurate view of our market.''
Shares in Patsystems, which plunged 90 percent in 2001,
dropped 1 penny to 10p.
Originally posted by betty1
London, Jan. 21 (Bloomberg) -- Patsystems Plc, the
unprofitable U.K. maker of derivatives-trading software with 31
clients, said it wants existing customers to pay more as the
company seeks to stem losses. Its shares fell 9.1 percent.
The company, whose loss widened in the three months ended
Sept. 30, also said it will spend about 1.1 million pounds ($1.6
million) redesigning its technology to expand its range.
Patsystems, which has lost about 90 percent of the 138
million pounds in market value it had when it first sold shares in
March 2000, began a review of operations last year after it said
annual profit would lag forecasts. The company has sold its
products too cheaply and paid salespeople too much, Chief
Executive Officer David Jones said in an interview.
``The previous management was trying to sell the product
anywhere and to anyone,'' Jones said. ``We've now got a more
accurate view of our market.''
Shares in Patsystems, which plunged 90 percent in 2001,
dropped 1 penny to 10p.
Should be interesting to see how they get out of that mess. Especially with all the direct access brokers coming on stream for SSF's. Gonna be alot of platforms out there for free.