London Capital Group on top after Brexit vote

London Capital Group (LCG) said on Wednesday that the UK's vote to leave the EU has had a positive impact on profits and revenues despite the recent shake up in financial markets.

The financial company, which provides spread betting and contracts-for-differences products, said it is also facing an enquiry from a regulatory authority with regard to the level of regulatory fees paid. LCG is currently processing this but does not expect it to burst the bubble on their surprising success post Brexit.

The announcement comes after chief executive Charles-Henri Sabet in June said his efforts to restructure have taken longer than expected, hampered by external factors such as the surprise Swiss National Bank exchange rate move in January last year.

Many of the group's hires have jumped ship in recent months, including head analyst Brenda Kelly, head of marketing Ollie Rosewell, together with heads of sales trading, compliance, legal and chief operating officer all departing in 2016, Digital Look understands.

Shares rose 4.62% to 5.10p at the close.