Delta Index, the Irish company which specialises in financial spread betting, has said it made a profit in the first half of this year. It said the profit came after an investment of €4m in its online trading platform and staff over the last few years.
The company made a loss of €630,000 last year and €950,000 in 2008. It did not give an exact profit figure for the first six months of this year.
Delta Index also said it was planning 'a significant expansion' into the UK and German financial spread betting markets which are estimated to be worth more than €400m.
The company, which employs 30 people, currently generates about 10% of its revenue overseas and aims to increase this to 50% by the end of 2012.
Conor O'Neill, joint managing director of Delta Index, says the Irish financial spread betting market is worth about €8-10m. 'We are targeting a bigger slice of the UK market which is worth an estimated €350m and Germany which is worth €115m,' he said.
Mr O'Neill also said turbulent financial markets had been good for the company, as its customers
can benefit from falls in the market.
He added that Enterprise Ireland have given support to Delta Index both through investment in technology, as well as assistance and advice in entering overseas markets.
