The London-based brokerage has published its H1 2018 interim report, revealing a solid start to the year.
London Capital Group Holdings (LCG) has started off 2018 on strong footing. On Friday, the London based online Forex and CFDs brokerage published its half-year interim report for the six months ended June 30, 2018, revealing a solid financial and operational performance.
For the first half of 2018, the company recorded a revenue of £18.6 million ($24.1 million), an increase of 54 percent from the same period in 2017, which had a revenue of £12 million. Gross profit was also up by 26 percent year-on-year, coming in at £13.7 million from £10.9 million in the six months ended June 30, 2017. These results are welcome news for LCG, which reported a statutory loss of £3 million, which was down from 2016's loss of £7.7 million.
Taking a look at the firm’s operational highlights, new accounts were up by 15 percent, hitting 10,259 accounts. By the end of 2017, the total accounts were 8,886. According to the statement, this increase demonstrates the effectiveness of LCG’s global branding, sales, and marketing.
Client volumes were also up 36 percent from the end of 2017. LCG attributes this to its expanding product offering and attractiveness of its Trading Platform. During the first half of 2018, client trading was also up by 23 percent from the end of last year.
Commenting on the results, Mukid Chowdhury, Group Chief Executive, said: "The senior management team and I are pleased that the investment in the business and the restructuring efforts of previous periods have continued to deliver improved results and that these efforts have now seen LCG return to profitability…"
“LCG will continue with its objective to return the business to profitability through best in class technology and client service and together with investment and the hard work by the senior management team and its people, we will continue to deliver long term sustainable growth and drive increased shareholder value.”
LCG Welcomes Regulatory Changes in The EU
Looking ahead, LCG says the outlook for the brokerage industry remains uncertain with the changing regulatory landscape in the European Union (EU). However, the London brokerage said in its report that it welcomes the changes and is confident that it will be able to handle the changes in the future.
London Capital Group Holdings (LCG) has started off 2018 on strong footing. On Friday, the London based online Forex and CFDs brokerage published its half-year interim report for the six months ended June 30, 2018, revealing a solid financial and operational performance.
For the first half of 2018, the company recorded a revenue of £18.6 million ($24.1 million), an increase of 54 percent from the same period in 2017, which had a revenue of £12 million. Gross profit was also up by 26 percent year-on-year, coming in at £13.7 million from £10.9 million in the six months ended June 30, 2017. These results are welcome news for LCG, which reported a statutory loss of £3 million, which was down from 2016's loss of £7.7 million.
Taking a look at the firm’s operational highlights, new accounts were up by 15 percent, hitting 10,259 accounts. By the end of 2017, the total accounts were 8,886. According to the statement, this increase demonstrates the effectiveness of LCG’s global branding, sales, and marketing.
Client volumes were also up 36 percent from the end of 2017. LCG attributes this to its expanding product offering and attractiveness of its Trading Platform. During the first half of 2018, client trading was also up by 23 percent from the end of last year.
Commenting on the results, Mukid Chowdhury, Group Chief Executive, said: "The senior management team and I are pleased that the investment in the business and the restructuring efforts of previous periods have continued to deliver improved results and that these efforts have now seen LCG return to profitability…"
“LCG will continue with its objective to return the business to profitability through best in class technology and client service and together with investment and the hard work by the senior management team and its people, we will continue to deliver long term sustainable growth and drive increased shareholder value.”
LCG Welcomes Regulatory Changes in The EU
Looking ahead, LCG says the outlook for the brokerage industry remains uncertain with the changing regulatory landscape in the European Union (EU). However, the London brokerage said in its report that it welcomes the changes and is confident that it will be able to handle the changes in the future.
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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