Worldspreads Group To Meet FY Targets

Worldspreads said Tuesday that it is confident that the Company will meet or exceed the challenging targets that it has set for the current financial year.

The company said trading activity has continued to accelerate since the Company’s year end in March, led by strong new client acquisitions and increased revenues and supported by the continued volatility in markets generally, an historically favourable backdrop for the spread betting industry.

The Company said it has seen an impressive performance from its international division in the period (which currently represents circa 20% of Group revenue). The Company’s trading platform is now available in eight languages and the upgraded customer interface was successfully rolled out on time and within budget.

The Directors expect that the recent ban on short selling financial shares is not expected to have a material effect on the Group’s profits going forward. The Directors therefore look to the future with confidence.

Tags: worldspreads

This entry was posted on Wednesday, October 1st, 2008 at 11:54 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.