Financial spread betting group WorldSpreads has said it now expects to report a loss for its current financial year, which ends on March 31.
In a trading update, the company said that strong growth in some of its main indicators had not translated into revenue growth, especially since the start of 2012.
It said a combination of "benign" market conditions and low volatility in some important markets has significantly affected revenues.
This is despite a 60% annual increase in transaction volumes in the year to the end of January and a 35% rise in the number of active clients.
But WorldSpreads said it believed recent trading patterns had been unusual and that a "more normal" trend would return in future.
"Despite the successful implementation of our sales and marketing campaign, improving performance from our new overseas operations and the successful cost management structures in place, we are disappointed to report that revenues for the second half of the group's financial year ended March 31 2012, will be behind our previous expectations," said CEO Conor Foley.
Separately, WorldSpreads announced that its chief financial officer Niall O'Kelly is to resigned after eight years with the group, though he will stay on until a replacement is found.
