London Capital Group Holdings (LCG) has reported a 27 per cent fall in revenues to £28.6m for 2012 following a 50 per cent drop in revenues from its core UK financial spread betting business during the second half of the year.
LCG said that 2012 proved to be a difficult year for the company, with financial results marked by a decline in customer trading activity, especially in the second half of the year.
The company recorded a decline across all of its divisions except the company’s UK CFD (contract for difference) business.
“Whilst it is often easy to blame market conditions, it remains true that lower levels of volatility in markets overall meant that there were less trading opportunities for LCG's customers to pursue,” said LCG chairman Giles Varney.
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