London Capital Group Holdings PLC Trading Statement (5493M)
July 17 2014 - 2:00AM
UK Regulatory
TIDMLCG
RNS Number : 5493M
London Capital Group Holdings PLC
17 July 2014
London Capital Group Holdings plc
("LCG" or the "Company")
Trading update
The Board of London Capital Group Holdings plc ("the Group"),
the online spread betting, CFD and institutional FX company,
announces the following trading update in respect of the first half
of the current financial year and confirms that it will release
interim results for the period ended 30 June 2014 on Wednesday 27
August 2014.
Revenue from continuing operations was GBP9.2m (2013: GBP15.2m),
of which GBP7.6m (2013: GBP13.1m) was derived from the retail
spread betting and CFD business and GBP1.6m (2013: GBP2.1m) was
derived from the institutional FX business.
The Group is expecting to report an adjusted loss before tax for
the six months to 30 June 2014 in the region of GBP0.9m, compared
to GBP2.8m profit from continuing operations for the same period
last year and GBP0.6m loss for the second half of last year.
Adjusted profit before tax is stated before recognising a small
charge in relation to share based payments and a credit relating to
the Financial Ombudsman Service (FOS) claims provision no longer
required of GBP0.5m. The loss before tax is expected to be in the
region of GBP0.4m (2013 continuing business: Profit GBP0.1m)
Overall the Group is well capitalised and as at 30 June 2014 had
net cash resources and amounts due from brokers amounting to
GBP17.7m.
Commenting on the results, Kevin Ashby, Chief Executive,
said:
"The results for the half year reflect the Company's current
concentration on the competitive UK market and a period of low
market volatility. During the period, the company completed the
deployment of its new trading platform and is undertaking a
restructuring programme to align the cost base with the current
level of trading."
"As announced earlier this month, we look forward to the active
involvement of Charles-Henri Sabet and deploying the substantial
additional resources, to build out the Company's capabilities and
product offerings, strengthen our brand, develop a broader product
and services offering, and attract a more diversified client base,
both within the UK market and internationally."
For further information, please contact:
www.londoncapitalgroup.com
London Capital Group Holdings plc
Kevin Ashby, Chief Executive Officer
020 7456 7000
Cenkos Securities plc
Nicholas Wells
020 7397 8900
Smithfield Consultants
John Kiely
020 7360 4900
Notes to Editors:
London Capital Group Holdings plc (hereafter "LCGH plc" or "LCG"
or "London Capital Group" or "the Group") is a financial services
company offering online trading services.
London Capital Group Limited (LCG Ltd), a wholly owned trading
subsidiary of LCGH plc, is authorised and regulated by the
Financial Conduct Authority. Its core activity is the provision of
spread betting and CFD products on the financial markets to retail
clients under the trading names Capital Spreads, Capital CFDs and
LCG MT. Its other division provides online foreign exchange trading
services to institutional and professional clients. LCG Ltd is one
of the leading providers of white label financial spread trading
and CFD platforms and its white label partners include TD Direct
Investing, Bwin.party, and Saxo Bank.
LCG Ltd has a European passport and is a member of the London
Stock Exchange. LCG Ltd also has access to international markets
through its global clearing relationships.
LCGH plc is listed on the London Stock Exchange's AIM market.
LCG is included in the General Financial sector (8770) and
Speciality Finance sub sector (8775) and has a RIC code of
LCG.L.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTZMGMNNVGGDZM
London Capital Hldgs (LSE:LCG)
Historical Stock Chart
From Jun 2024 to Jul 2024
London Capital Hldgs (LSE:LCG)
Historical Stock Chart
From Jul 2023 to Jul 2024