London Capital Group Holdings Share News (LCG)

LONDON (Dow Jones)-- London Capital Group Holdings Plc (LCG.LN), a financial services and online spread betting company, announced Wednesday for the six months ended June 30, that pretax profit and share based payment expense are expected to be in the region of GBP4.0 million, which is ahead of the same period last year. MAIN FACTS: -This profit figure is before a previously announced exceptional impairment of capitalized software costs of GBP3.2 million. -Following on from the second half of 2009, volatility remained at a low level during the first quarter of 2010, but it picked up significantly during the second quarter which resulted in better than expected revenues for the six month period to the end of June. -The Group remains debt free and ended the 6 month period with a strong cash position. -During the second quarter GBP1.8 million became due from a professional client. -No provision has been made as the Directors have been advised the amount is recoverable. -The Group's KPI's continue to be robust with strong growth in client accounts, average daily trade volumes, and net revenue per active client. -Total U.K. financial spread betting accounts are up 28.6% to 57,890 (2009: 45,000) average trades per day increased to 31,894 (2009: 26,208) and net revenue per active client increased 75% to GBP1,051 (2009: GBP599) for the half. -Shares at 1307 GMT up 140 pence, or 5.07%, at 140 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com (END) Dow Jones Newswires July 07, 2010 09:09 ET (13:09 GMT)