LONDON, October 5, 2016 /PRNewswire/ --
LCG has announced performance improvements for the first half of 2016. The company has tripled its gross profit, which rose to £9.2 million in the first half of 2016, up from just over £3 million the previous year.
Year-over-year revenues for the same period were also reported to have risen by 110 percent to £11.2 million, up from £5.3 million in H1 2015. LCG's adjusted pre tax losses came in at £3.4 million, another improvement from £8.5 million.
The company shows signs of picking up momentum following a rebranding initiative that commenced in January 2016, as well as a recent technological overhaul and the introduction of a new proprietary trading platform, LCG Trader.
LCG has also announced growth in its customer base, with average newly registered and funded accounts having increased by 15 percent to 325 per month. Engagement among the firm's existing client base is also up, with the total number of monthly active clients having risen by 2% year-over-year to 4,141.
These figures are highly encouraging, especially considering this year's somewhat muted trading landscape, which has been characterised by low volatility and market uncertainty. LCG has demonstrated an ability to register growth in less than ideal trading conditions and is now poised to consolidate these gains by pursuing a greater market share.
Notes to Media
About LCG www.lcg.com
With almost two decades in the business of online trading, you can rest assured that you're trading with an experienced, globally recognised name that is here to stay. LCG is publicly listed on the London Stock Exchange, Authorised and regulated by the Financial Conduct Authority and operates under the very strictest standards and practices.
London Capital Group Holdings plc (LCGH plc) is a company registered in England and Wales under registered number: 05497744. London Capital Group LTD (LCG) is a wholly owned subsidiary of LCGH plc. LCG is authorised and regulated by the Financial Conduct Authority (FCA) under the company's registration number of: 182110. LCG is a member of the London Stock Exchange and is registered under company number: 3218125. Registered address for LCGH plc and LCG is: 1 Knightsbridge, London, SW1X 7LX.
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SOURCE London Capital Group, lcg.com