30 Apr 2012 15:19
London Capital Group Holdings plc
("LCG" or the "Company")
AGM Statement
The Board of London Capital Group Holdings plc ("the Group"), the financial services and online spread betting and CFD company, is pleased to report that key performance indicators for the first four months of the year are stable. Client acquisition is currently 9 per cent higher on the same period last year and client funds on deposit stand at £47.7m.
Although our KPIs have been stable, lower volatility compared to the same period last year has meant that revenues have been more volume driven than directional and as such the revenue generated by client activity has reduced versus the same period last year. However, the Board is focused on ensuring the Group's cost base remains low whilst maintaining sufficient flexibility to progress its growth strategy. The Group is well capitalised, with significant cash resources.
Although our business is one which has little predictability of future earnings the Board is confident that the KPIs demonstrated to date mean that the Group is well placed to capitalise upon greater volatility when it returns to the market and accordingly, the Board looks forward to the remainder of the year with confidence.
For further information, please contact: www.londoncapitalgroup.com
London Capital Group Holdings plc
Simon Denham, Chief Executive Officer
020 7456 7000
Cenkos Securities plc
Nicholas Wells/Camilla Hume
020 7397 8900
Smithfield Consultants
John Kiely
020 7360 4900
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.
London Capital Group Limited (LCG Ltd), a wholly owned trading subsidiary of LCGH plc, is authorised and regulated by the Financial Services Authority. Its core activity is the provision of spread betting and CFD products on the financial markets to retail clients under the trading names Capital Spreads, Capital CFDs and LCG MT. Its other divisions provide online foreign exchange trading services to institutional and professional clients and also institutional derivatives broking. LCG Ltd is one of the leading providers of white label financial spread trading and CFD platforms and its white label partners include TD Direct Investing, TradeFair, Bwin.party, and Saxo Bank.
Prospreads Limited, a wholly owned trading subsidiary of LCGH plc, is authorised and regulated by the Financial Services Commission in Gibraltar and provides Direct Market Access ("DMA") spread betting products on financial markets that are aimed at professional clients.
Capital CFDs (Australia) is a trading name of London Capital Group Pty Limited, a wholly owned trading subsidiary of LCGH plc, and is regulated by the Australian Securities and Investments Commission.
LCG Ltd has a European passport and is a member of the London Stock Exchange. LCG Ltd also has access to international markets through its global clearing relationships.
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.