London Capital H1 pretax profit doubles

LONDON (Thomson Financial) – London Capital Group Holdings PLC (operating Capital Spreads) said its first-half pretax profit more than doubled with its main brands performing above expectations and that it has started the second half of the year well.

The spread-betting company said first-half pretax profit rose to 3.57 mln stg from 1.66 mln stg a year earlier, as sales surged to 8.13 mln stg from 3.53 mln stg. Excluding share option reserve, pretax profit rose to 3.90 mln stg from 1.65 mln stg.

The average number of spread bets taken per day increased 63 pct to 7,030 and the number of live spread betting client accounts increased 96 pct to 13,180.

London Capital set an interim dividend of 1.25 pence per share and said it continues to perform in line with expectations.

Tags: capital spreads, CapitalSpreads, london capital group, spread betting

This entry was posted on Friday, August 10th, 2007 at 2:38 am 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.