London Capital Group completes restructuring
London Capital Group completes restructuring explained by professional Forex trading experts the “ForexSQ” FX trading team.
London Capital Group completes restructuring
UK online trading services provider London Capital Group Holdings plc (LON:LCG) has earlier today published its audited financial metrics for the year to December 31, 2015, with numbers in line with forecasts.
The company has been undergoing restructuring… As LeapRate has exclusively reported, London Capital Group commenced 2016 with a soft launch of its rebrand to just ‘LCG’ – its ticker symbol on the LSE. The rebrand includes a new website under the URL www.lcg.com, a new trading platform LCG Trader, and a new logo.
The business has gone through a phase of consolidation in 2015. This, however, has led to a lower level of trading revenue during the year as LCG limited its promotional activities in order to focus on the restructuring of the business.
London Capital Group confirmed today that the restructuring is now complete and that the company is positioned to return to a period of sustained growth.
FY 2015 revenues from continued operations fell by 32% year on year to £15.5 million.
The Group’s main business activity, UK financial spread betting and contracts for difference, saw divisional revenue decline by 21% to £15.3 million from £19.4 million in 2014 as a result of management’s decision to limit active promotional activity whilst the business focused on its restructuring activities.
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