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LCG Chief Steps Down as Annual Profit Halved

25th February 2010 11:40 am GMT

With declining revenues and increasing costs severely impacting the company's bottom line, London Capital Group Holdings plc (LCG) said Thursday that profit for the 2009 year was lower than expected, falling 49% to £3.9 million. At the same time the company announced that CEO Frank Chapman is to step down in April after seven years in charge, to be replaced by current Group Finance Director Simon Denham.

Despite the volatile market conditions of 2008 not being [...]

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