Financial spread betting company WorldSpreads has reported pre-tax profits of €3m for its continuing businesses for the year to the end of March. This is up from €250,000 the previous year.
Revenue jumped by 85% to just under €13m, as the company benefited from stock market volatility. Average trades per day rose by more than 40%, while WorldSpreads also registered more than 4,000 new customers during the year.
During the year, WorldSpreads sold its Irish financial spread betting business and moved to new offices in the City of London.
The company said the proceeds from the Irish sale had placed it on the strongest financial footing of any time in its history, and it was now looking to expand into Europe.
