LeapRate Exclusive Interview… There have been no shortage of skeptics in the online trading world, as well as in the London City crowd, when it comes to London Capital Group Holdings plc (LON:LCG). LCG saw a change of control and complete makeover of its website, logo, trading platform, management, and a recapitalization led by entrepreneur Charles-Henri Sabet who has personally overseen all the changes.
While it has been almost two years since Sabet and his crew took charge of LCG – probably longer than they were hoping – the results are finally coming in and heading in the right direction. LCG’s Revenues in the first half of 2016 were more than double those of last year. The company still lost money in 1H-2016, but less than last year and less than analysts were looking for.
We’re pleased to speak today with the man behind all the changes, Charles-Henri Sabet, and get a look at what he and his very busy team have been up to.
LR: Hi Charles, and thanks for joining us today. First off, congratulations on your significantly improved 1H financial results. You must be pleased, after all the time and money you’ve invested in the company over the past two years.
Charles: Thanks a lot. Yes, we are very happy to see that our efforts are starting to generate revenues.
We are pleased to see that London Capital Group has been bringing in new clients even without much marketing activity. However, with our new Chief Marketing Officer on board as well as our new and improved trading technology and risk management, we are hoping to maximise our financial results.
LR: While you did increase revenues and activity, and cut your net loss in 1H 2016, it looks like there’s still some way to go to profitability. What are the key things LCG must accomplish in the coming months to get on the right side of the profit line?
Charles: We have upgraded and strengthened our marketing division with our staff working on a new expansion programme into new regions. Our aim as a company is to elevate our clients’ trading experience by tailoring our products and services to these markets with the support of our new technology and services which have proven to be very scalable.
LR: How has the uptake gone on the new trading platform LCG introduced at the beginning of the year?
Charles: The launching of our new trading platform was extremely well received by our existing customers and white labels. Our new platform includes new unique features and better pricing but there is still more on the way.
LR: It seems as though nearly every week we’re writing about new entrants to the FCA-regulated online trading market in the UK. Does the increased competition concern you?
Charles: Not at all. Competition is broadly accepted as the best available tool for promoting clients’ well being.
LR: What else can we expect to see from LCG in the coming months?
Charles: We are currently working on improving our pricing by significantly reducing our spreads. Furthermore, we plan to introduce additional asset classes and an increased offering on our MT4 platform.
With a wider range in products and a new multifunction partners and affiliate portal out soon we aim even better results.