London Capital Group (LCG.L) – full year trading statement LCG.L
Comment by Objective Capital , Jan 03, 2008 Questions?
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London Capital said its trading for the year to Dec 31, 2007, is ahead of consensus market expectations and that it continues to experience growth in all its main business divisions.
The spread-betting company said it expects to report its full-year results on Feb 20.
Objective's view:
Market conditions, principally volatility, have favoured the spread betting and foreign-exchange trading businesses for virtually the whole of 2007. After a strong first half it had been expected that LCG would enjoy a good performance for the whole of 2007. While short on detail, this trading statement confirms that 2007 was indeed a good year and by coming in ahead of consensus LCG shows that it has something in reserve. Our expectations for the current year are robust and include full-year contributions for the first time from recent white label deals with Paddy Power and Betfair.