News

Worldspreads Group plc ("Worldspreads" or "the Group")
Trading Update

The Board of WorldSpreads (the "Board") is pleased to advise that its positive trading performance as highlighted in the Group's interim results announced on 28 November 2008, has continued during the second half of the financial year. Consequently, the Board expects Group sales and profit before tax for the financial year to 31 March 2008 to exceed both original management expectations at the time of the IPO and current market expectations by a significant margin. 

During the year all of the Group's key performance indicators have shown substantial levels of growth and have continued to accelerate into the year end.  The Board is especially pleased that the marketing and business development strategy has delivered geographical and client diversification which has led to Group revenues being primarily derived from volume of trades.  Consequently the Group has little or no reliance on any small groupings or large clients.  This growth has been experienced in both the principal offices in Dublin and London, while international sales growth continues to progress very satisfactorily.

In January 2008, WorldSpreads recruited a team of experienced IT programmers, developers and designers based in Kuala Lumpur, Malaysia, in order to build the resource it requires to manage and enhance its existing proprietary systems and to improve the quality and speed of the roll out and integration of white labelled sites to domestic and  international partners. The effect of this significant strengthening of the IT resource will be cost neutral by end of calendar 2008 and is expected by the Board to be net revenue enhancing thereafter.

The Board expect to announce the Group's preliminary results for the year ended 31 March 2008 in [June] 2008.
31 March 2008

For further information, please contact:

WorldSpreads Group plc
Niall O'Kelly, Chief Financial Officer
+353 (0)1 660 9835 / +44 (0)20 7291 9180

Collins Stewart Europe Limited
Mark Connelly
+44 (0)20 7523 8350

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