Neonet Blames More Connections For High Costs
TRANSACTION SYSTEMS
STOCKHOLM--Swedish broker/dealer and wannabe virtual exchange Neonet has blamed the expense of developing connections to more exchanges and losses from currency exposures for its recent fall in profits (TTW, Feb. 4).
But Neonet expects to report more positive results soon, and CEO Torvald Bohlin says the heavy increase in costs that slashed profit last year (despite increased revenue) was attributable to one-offs. For example, there are more connections planned for this year, but much of the
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