London Capital warns of pain

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LONDON Capital Group, whose brands include Capital Spreads, forecast lower first-half profits yesterday due to a fall in interest income and greater investment in new trading software and white-label products.

The online spread betting firm, which plans to maintain its interim dividend of 2.5p per share, however, said all its divisions remained profitable and that it recently saw signs of improved performance.

The firm added it is seeing strong organic growth in new client acquisitions, average daily trade volumes and client funds on deposit.