LCG highlights ‘increased revenue capture’ as finances rise in H1

Charles-Henri Sabet, chief executive of London Capital Group (LCG), has cited “increased revenue capture” as the main reason behind financial growth during the six months to June 30.

Revenue in the first half amounted to £11.2 million (€13 million/$14.5 million), up 111% from the £5.3 million posted in the corresponding period last year.

Gross profit climbed from £3 million to £9.2 million in the first six months of the year, while adjusted earnings before interest, tax, depreciation and amortisation was up from a loss of £7.5 million to negative £2.1 million.

LCG also revealed a better performance in terms of both basic and diluted loss per share, with both of these improving from negative 14.26 pence to 5.26 pence.

The interim results come after LCG in July said it expected the Brexit vote to have a positive impact on its financial performance.

“Despite the tough trading conditions seen at the tail end of Q1-16 and through Q2-16 prior to the Brexit vote, the group has seen strong revenue growth primarily due to increased revenue capture compared to prior periods,” Sabet said.

“The integration of new technology coupled with a resilient and loyal client base continues to see LCG grow despite the continued lack of volatility in the market resulting in a benign trading environment.

“LCG's ability to capture and take advantage of trading opportunities means the Group is now better placed to be resilient during periods where trading conditions are weak.”

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