One More Thing:Dublin-based financial spread betting group WorldSpreads has proved to be a decent gamble for those who backed its initial public offering on the London's Aim market on August 1st.
The Irish company floated in London at 47p, raising €4.85 million in the process. Its share price has since risen by 68 per cent to 79p at a time when most Irish stocks have been heading south.
WorldSpreads is an execution-only business that makes its money from the spread between buy and sell prices, whether markets are rising or falling. Spread betting allows investors to avoid stamp duty and capital gains, and is popular with short-term traders.
Founded by Conor Foley and Brian O'Neill in 2000, WorldSpreads' board of directors includes former Man United stalwart and Dubs star Kevin Moran.
Half-year results are due on November 28th, and expectations are high. On September 28th, the company said its pretax profit would be "significantly in excess of original management expectations" for the six-month period. It had operating profits of €532,000 on revenues of €6.6 million in the year to the end of March.
There's no such thing as a safe bet but WorldSpreads' form means it could be worth a flutter.
