London Capital milking market volatility

Feb 22, 2012

Share with
friends:

Comments (0) Print this article

Spreadbetting firm London Capital Group(LCG) says revenues jumped 13pc in 2011 to hit 39m pound, as clients chanced their arm in volatile markets.

Adjusted profit before tax rose 9% to £7.1m at the company behind the Capital Spreads platform in the UK but which offers other products abroad, notably contracts for difference.

Average revenue per user climbed 7% to £1,370 (2010: £1,279) for the year, although recruitment of new clients slowed to 10,398 (2010: 12,036).

Commenting on the results, Simon Denham, Chief Executive, said: "Despite a difficult start to 2011 the group has delivered a strong set of results and made positive inroads operationally and financially. We are particularly delighted to have improved our scalability, competitive position and to have developed our international operations further."

Shares in London Capital had risen 6.7% by 09:24. The group's stock is still down 6.3% over the last 12 months.

BS

Comments (0)

Share with
friends:

Related articles

Leave a comment

This will be the name displayed with your comment.

This helps us verify comments are genuine. It will not be displayed anywhere on the site and is stored confidentially.

Please keep your comment within 1,000 characters and relevant to the main topic. We encourage healthy debate, but we don't allow insults or bad language. Anything off topic or unpleasant, we'll remove. Enjoy the conversation! Thank you.

captcha To prevent spam-related comments please enter the characters shown in the 'Captcha' box to the left.

By leaving a comment you accept our terms and conditions.


FREE - MoneyWeek's daily investment emailJohn Stepek

Our free daily email, Money Morning, is an informative and enjoyable analysis of what's going on in the markets. Written by our Editor, John Stepek, and guest contributors.
Sign up FREE to Money Morning here.

>