London Capital Group doubles revenue

LCG Capital has reported good results for the first half of 2016, ending on June 30, despite being affected by Brexit.

UK.- The company’s rebranding efforts paid off in the first half of 2016: LCG Capital (LGC) reported that its revenues increased by 110 percent when compared to the same period in 2015 to £11.2 million. Gross profit for the first six months of 2016 tripled to more than £9.2 million, compared to £3.0 million a year earlier.

Charles-Henri Sabet, CEO of LCG, said: “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.”

The total number of monthly active clients increased by 2 percent to 4141, and LGC’s average monthly newly open and funded accounts increased by 15 percent to 325.