Spreadex Announce Strong First Half of 2013

UK Spread betting firm Spreadex has announced an increase in betting turnover and net profit for the first half of 2013. The Spread betting operator has announced that growth in its betting has been aided by a series of acquisitions and new online features and customer add-ons. Spredex announced a 24 per cent rise in profits after tax to £11m in the year to the end of May.

Further results showed that betting turnover had jumped 14% to £29.4m according to Spreadex accounts filed at UK Companies House. The firms recent acquisitions MF Global’s spread-betting client list in 2012 and the further acquisition of sportsbook Extrabet have helped improve the companies performance. This past march Spreadex purchased Cantor Index’s spread-betting customer base from Cantor Fitzgerald.

Spreadex commented in its annual statement “the strength of the company’s brand, the IT developments of the past year and planned enhancements in the coming months mean that Spreadex is well positioned to experience continued growth”. Further stating that the volume of bets placed, new customers and the total number of customer acquisitions had all risen during the past six months.

Spreadex is currently studying new market technologies to improve its products, in the coming months the operator will look to increase its online coverage with new marketing set in place. This past May Spreadex  launched Bitcoin trading in May. The positive performance by the company has seen them pay out £3.76m in dividends during the year.