Shares in London Capital Group fell by nearly 13% on Monday after the online financial spread betting and trading company warned that its results for 2009 would be below market expectations, with pre-tax profits expected to be between £6 million and £6.5 million for the year.
Higher expenditure on infrastructure and white label partnerships including Saxo Bank, Betfair and Paddy Power have impacted the company’s profitability. Read more.