LONDON CAPITAL GROUP HOLDINGS PLC ("LCG", the "Company" or the "Group") INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 LCG is pleased to announce its interim results for the six months ended 30 June 2017. A copy of the interim results will be available from the Company's website, www.ir.lcg.com, shortly. Financial Highlights Operational Highlights · Client volumes up 25% (2016 H2: 102bn, 2017 H1: 127bn) This demonstrates the increased quality of client now trading with LCG. · Client net deposits per month up 71% (2016 H2: £1.4m, 2017 H1: £2.4m) This demonstrates the increasing effectiveness of the new trading platform and the increased product offering by LCG. · New Funded Clients up 9% (2016 H2: 2,437, 2017 H1: 2,662) This demonstrates the increasing effectiveness of the new brand, sales and marketing activities deployed by LCG. · Assets Under Management up 17% (2016 H2: £14.8m, 2017 H1: £17.3m) Further demonstrates the increasing effectiveness of the new brand, platform, sales and marketing activities. Commenting on the results, Charles-Henri Sabet, Group Chief Executive, said: "The results are extremely encouraging and continue to demonstrate how LCG's performance is improving following its investment in technology, product offering and branding. This improvement has been achieved against the background of challenging trading conditions in the first half of 2017. During this period, the Group has seen strong revenue growth primarily due to increased client acquisition and participation as well as revenue capture compared to prior periods. This has enabled LCG to grow despite the lack of volatility in the market resulting in a benign trading environment. LCG's ability to capture and take advantage of trading opportunities means that the Group is now better positioned to be resilient during periods when trading conditions are weak and we remain fully focused on our goal of returning LCG to profitability. The outlook for the industry continues to remain uncertain given the changing regulatory landscape. This is anticipated to have an impact on the industry and affect the services that can be offered to clients, particularly with regard to the levels of leverage that can be offered. However, the precise impact of this will not be known until the regulatory authorities have finalised their conclusions. LCG remains committed to ensuring the highest standards of regulatory compliance and welcomes changes that will improve and protect client outcomes". 1Adjusted EBITDA represents (loss)/profit before interest, tax, depreciation, amortisation, share based payment expense, impairment charges to goodwill and investments, non-recurring restructuring costs, costs related to change in IT platform and the movement in the provision for FOS claims. 2Adjusted (loss)/profit before tax represents (loss)/profit before tax excluding share based payment expense, impairment charges to goodwill and investments, non-recurring restructuring costs, costs related to change in IT platform, the movement in the provision for FOS claims and non-recurring legal fees. Applied consistently hereafter. For further information, please contact: London Capital Group Holdings plc Charles-Henri Sabet +44 (0)20 7456 7000 Allenby Capital Limited Nominated Adviser and Broker John Depasquale Nick Naylor +44 (0)20 3328 5656 NIGHTHAWK SAYS STRONG BUY IF YOU WANT TO MAKE A LOUSY 1000% ON THIS STOCK UNTIL NEXT YEAR.....
I've never traded a stock in my life, and know almost nothing about them, and it's quite unusual for me to find mentioned in the forum the stock of a company I've regularly dealt with in the past (though I've seen Amazon mentioned once or twice, admittedly). Years ago, I used to have an account with LCG, right back from the days when they were trading as "CapitalSpreads" (before they changed the name of that business to that of their holding company, LCG). All my experiences of their customer service, operations and integrity were entirely favourable - and that's pretty high praise coming from me, since I'm not particularly tolerant and something of a "natural critic".