London Capital Group Holdings Share News (LCG)

Spread better London Capital is on track this year after account numbers, average daily trade volumes, and net revenue per active client all picked up in the second half of 2010.The Aim-listed firm added it is responding to a query from the Financial Ombudsman Service relating to commission rebating of a managed spot FX fund which occurred in the first half of 2009. Should any liability arise from this, it will be immaterial in the context of the group as a whole, the company commented. UK financial spread betting average trades per day increased to 29,256 (2009: 23,975) and net revenue per active client increased 38% to £1,279 (2009: £929) for the year.Two new CFD divisions launched in the year, LCG MetaTrader and Capital CFDs, incurred net losses of £0.8m for the year due to the start up costs.There has been movement on recovering the £1.8m professional client debt disclosed at the half year, the firm said. Results this year will also include a previously announced exceptional impairment of capitalised software costs of £3.2m.