Turnover and profit soar at Spreadex

UK spread betting company Spreadex has reported soaring turnover and profits in 2015, attributing its success to more punters as a result of a wider range of betting markets.

Results for the year ending May 31, 2016, show that Spreadex, which takes wagers on sports and financial markets, saw turnover leap from GBP 40.5 million to GBP 50.3 million, whilst pre-tax profits rose from GBP 22 million to GBP 27.1 million.

Shareholders in the company received a bumper GBP 25.1 million dividend, up from GBP 20.1 million for the preceding year.

Management of the company commented in a statement: ‘While operating in an extremely competitive environment, 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.’

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