London Capital Group Holdings Regulatory News (LCG)

22 Apr 2009 13:31



London Capital Group Holdings PLC

22 April 2009

London Capital Group Holdings plc

AGM Statement

The Board of London Capital Group Holdings plc ("the Group"), the financial services and online spread betting company, is pleased to report that key performance indicators (KPI's) for the first quarter are ahead of management expectations.

Gross revenue for the Group is also ahead of last year but our group profit before tax is below last year. This reflects an increase in costs, namely, accelerated investment in new trading software and increased white label expenses in addition to less volatile conditions in our main markets. We have also been subject to lower levels of interest income.

Meanwhile the KPI's have all shown extremely strong growth to new highs. Average daily trade volumes have risen to 28,000 in Q1'09 (Q1'08: 17,700), new client acquisition is well ahead of last year and has accelerated to over 2000 per month in Q1'09 (Q1'08: 1000) and spread betting client funds on deposit have risen in the first quarter by 26% to £30.5m (YE 08: £24.2m). These should bode well for the remainder of this year. Bad debts remain negligible.

For further information, please contact:

London Capital Group Holdings plc Tel. 020 7456 7001

Frank Chapman, Chief Executive Officer

www.londoncapitalgroup.com

Smithfield Consultants Tel. 020 7360 4900

John Kiely

Notes to Editors:

London Capital Group Holdings plc (hereafter "LCGH plc" or "LCG" or "London Capital Group" or "the Group") is a rapidly growing financial services company offering online trading services. Its core activity is the provision of spread betting products on the financial markets to retail clients under the trading names Capital Spreads and FuturesBetting.com (FBc). Its other divisions provide online foreign exchange trading services to institutional and intermediate clients and also institutional derivatives broking.

London Capital Group Limited, a wholly owned trading subsidiary of LCGH plc, is regulated and authorised by the Financial Services Authority. It has a European passport and is a member of the London Stock Exchange. London Capital Group Limited also has access to international markets through its global clearing relationships. FBc is regulated and authorised by the Financial Services Commission in Gibraltar.

LCGH plc is listed on the London Stock Exchange's AIM market. LCG is included in the General Financial sector (8770) and Speciality Finance sub sector (8775) and has a RIC code of LCG.L.