London Capital Group posts Record Profits

London Capital Group, the owner of the spread-betting businesses Capital Spreads and ProSpreads has announced an increased total dividend after posting record full-year profits.

LCG saw full-year pretax profit rise to £11.5 million from £8.6 million a year earlier, and said it was ‘appropriate’ to pay a final dividend of 8.5 pence a share, which amounts to around £3.3 million. The company has signed about 14,000 clients last year, many of whom are active traders and now has nearly 33,560 clients in total. In October 2008, when volatility in the markets was at its peak, the company’s spread-betting division completed more than 800,000 trades.

London Capital Group has also launched white label operations in Germany and in Denmark, including a deal with Saxo Bank, an online foreign exchange and securities trading specialist.

Thoughts: London Capital Group is a success story – there is quality management and their strategy of partnering with the big names in the broking and betting business coupled with competitive spreads continues bearing its fruit. I particularly like the people at Capital Spreads – they are approachable, involved and genuinely appreciate and listen to input from their clients – quite unlike the arrogant attitude I have once or twice encountered in this industry – treating customers as a number just won’t work…

Tags: capital spreads, CapitalSpreads, LCG, london capital group

This entry was posted on Wednesday, February 18th, 2009 at 10:27 pm and is filed under Financial Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.