London Capital FD stake tops 15%

published 27 April 2009

Financial services and online spread betting firm, London Capital Group, traded better Monday on news finance boss Simon Denham spent £420,000 on shares.

Denham, 47, paid 210p each for 200,000 LCG shares, taking his stake to over 5.9m shares, or 15.2% of the company.

Last week, the firm said pre-tax profit for the year will be below last year. "This reflects an increase in costs, namely, accelerated investment in new trading software and increased white label expenses in addition to less volatile conditions in our main markets," it said. "We have also been subject to lower levels of interest income."