Spreadex continues to post strong growth
Turnover and group profit rise again, following on from record turnover last year
Spreadex has continued to grow strongly in 2013, posting increased turnover and group profit for the year ending 31 May 2013.
Profit increased 24.1% year-on-year to £11m, while turnover eclipsed the record figure posted in 2012, climbing 14.4% to £29.4m
The UK-based spread betting operator cited strong growth in key performance activites including betting numbers, unique client trading and new clients.
The number of retained staff including directors rose from 85 to 93, increasing staff costs to £7.6m for the year.
The company also heralded upgrades to its IT systems and risk management strategies, allowing for an expansion to its product offering. Spreadex took over Cantor Index’s client list following the financial betting arm ceasing to trade in March this year.
The accounts, filed with Company House, also note that Spreadex expects to continue company growth into the new financial year with further enhancements to the company’s offering.
“Whilst operating in an extremely competitive environment, the strength of the group’s brand, the IT developments of the past year and planned enhancements in the coming months mean that Spreadex is well positioned to experience continued growth,” the company said.