LCG hails ‘strong revenue growth’ in full year
London Capital Group (LCG) has cited the integration of new technology and an ongoing investment in marketing as two of the main reasons behind a rise in revenue during the 12 months to December 31, 2016.
Full-year revenue at the company amounted to £23.2m (€26.4m/$30.1m), which represents an increase of 50% on the £15.5m posted in the previous year.
Gross profit almost doubled from £10.5m to £19.6m, while adjusted earnings before interest, tax, depreciation and amortisation improved from a loss of £12.3m to negative £4.8m.
Meanwhile, statuary loss before tax came in at £7.8m, compared to £14.5m in 2015, while basic loss per share from continuing operations improved from 0.24 pence to 0.035 pence.
Charles-Henri Sabet, chief executive of LCG, said: “Despite the tough trading conditions seen during the first half of the year, the group has seen strong revenue growth as a result of increased revenue capture compared to prior periods.
“The integration of new technology, continued investment in innovative marketing and a focus on customer service and retention coupled with a resilient and loyal client base continues to see LCG grow both in existing and new markets.
“The results clearly demonstrate the success of the growth initiatives being deployed by the group across the business and as LCG continues to develop we remain fully committed to ensuring the company continues on this path to sustained long-term growth.”
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