Spreadex Quadruples Dividend
By Casinomeister, Last updated Aug 21, 2015
Turnover and profits rise at spread betting firm
Investors in the UK spread betting firm Spreadex will be pleased with the GBP 20.1 million windfall dividend distributed this year — a year-on-year quadrupling of the pay-out — following soaring turnover and profits.
Full year results to May 31, 2015, show that sales grew from GBP 35.4 million to GBP 40.4 million, while pre-tax profits increased by 19 percent to GBP 22 million.
Founder and former City trader Jonathan Hufford (who has a 9.1 percent shareholding) will benefit handsomely, along with other shareholders, including racehorse trainer Peter Harris, who has a 42.5 percent stake in the firm.
Spread-betting is a form of gambling where punters can bet whether a certain outcome, such as a company's share price or a football team's winning margin, will be above or below a range or spread. It differs from fixed-odds betting in that gamblers can lose more than their original stake.
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