LONDON, September 30, 2011 /PRNewswire/ --
The Board of WorldSpreads Group plc ('WorldSpreads' or the 'Company') is pleased to provide the following trading update for the six month period ending 30 September 2011.
The Company has continued to enjoy increased levels of business, as represented by Active Clients and Trade Numbers, in the period since 31 March 2011, driven partly by higher levels of volatility in the financial markets. In particular, the month of August was the busiest trading month in the history of the Company. The Company has maintained a conservative hedging policy during this period and expects to announce top line revenues comfortably ahead of the same period last year.
The Company has continued its international expansion during the period and is now seeing positive returns from the investment it has made in these markets. The Company is pursuing a number of new opportunities both internationally and in the UK which the Board expects to contribute to top and bottom line growth in the current financial year. Further investment in the Company's IT infrastructure has been made and the Company is expecting to launch a new mobile trading platform and a CFD platform before the calendar year end. The Company continues to maintain a tight control over its cost base.
The Board is satisfied with the progress the Company has made in the past six months and is encouraged by the pipeline of opportunities the Company has to fuel growth in the coming periods.
Annual Report and Accounts
WorldSpreads Group plc announces that copies of its Annual Report and Accounts for the financial year ended 31 March 2011 were posted to shareholders on 29 September 2011. An electronic copy of the Report and Accounts is available from the Company's website at http://www.worldspreads.com.
About WorldSpreads Group plc:
- WorldSpreads Group plc (AIM: WSPR) is a fast growing financial services group offering online and telephone trading. The Group's core activity is the provision of spread betting products on the financial markets to retail clients from its website http://www.worldspreads.com.
- WorldSpreads Limited, a wholly-owned trading subsidiary of WSPR, is regulated and authorised by the Financial Services Authority and is authorised to offer its products throughout Europe. It offers a full range of spread betting prices on all the major financial markets, including stock indices, individual shares, currencies, commodities and interest rates.
- The Group floated on the London Stock Exchange's AIM market in August 2007 and gained a dual listing by joining the Irish Stock Exchange's ESM market in May 2008.
SOURCE WorldSpreads UK