BinckBank Q1 results in line, sees little trading

AMSTERDAM, April 23 Mon Apr 23, 2012 1:30am EDT

AMSTERDAM, April 23 (Reuters) - Dutch online broker BinckBank said on Monday there was relatively little trading activity by its clients in the year to date, and reported first-quarter results in line with analysts' expectations.

As a result of the low trading activity by its clients - who include retail investors, professional brokers and asset managers - BinckBank reduced its marketing budget, the company said in a statement.

First-quarter earnings per share, adjusted for certain amortisation costs, mainly goodwill, were 0.21 euros per share, compared with two forecasts of 0.19 and 0.21 euros per share.

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