London Capital Group (LCG), a UK financial services provider, has disclosed its fiscal results for the 2015 financial year ending, which were characterized by steep declines across the board relative to the year prior, according to an LCG statement.
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In terms of its business, LCG incurred steep declines across a number of financial components. Its overall adjusted loss before tax from continuing operations in 2015 was -$20.4 million (-£13.9), relative to profit of $1.8 million (£1.2 million) in the year prior – by extension, its statutory loss after tax from continuing operations yielded -$21.2 million (-£14.5 million) during the 2015 fiscal year.
Moreover, LCG’s revenues also took a tumble during the 2015 fiscal year with revenue from UK financial spread betting (FSB) and contracts-for-difference (CFD) crashing -20.6% YoY to $22.4 million (£15.4 million), from $28.4 million (£19.4 million) in the year before. The group’s revenue from continuing operations was also pointed lower, by a factor of -32.0% YoY, having fallen to $22.7 million (£15.5 million) in 2015 from $33.3 million (£22.7 million).
Looking to the operational side of things, LCG’s FSB and CFD performance was largely mixed, specifically in terms of trades. During the 2015 year, the group saw its FSB trades increase by a margin of 48.0% YoY during 2015 to 29,581 trades per day, easily besting its 2014 figure of 19,994 trades per day.
However, this was pared with a large decrease in new client acquisitions in 2015, decreasing -37.0% YoY to just 3,539 from 5,615 in the year before. LCG’s institutional foreign Exchange (FX) performance was also on the decline, showing a divisional revenue of just $293,100 million (£200,000) in 2015, compared to a figure of $4.8 million (£3.3 million), crashing -93.9% YoY.
