Worldspreads confirms approach

Financial spread-betting firm Worldspreads said today that it has received an approach for its Irish division.

In a statement the company's board said that certain members of its management had made the offer but it added that there was no guarantee that any offer would be made.

Earlier this week, Worldspread announced that full-year revenues grew 39 per cent to €14.9 million in the 12 months ended March 31st, from €10.7 million during the same period last year.

Operating profits grew at the same rate to €4.6 million from €2.7 million, excluding flotation costs which it incurred in its 2008 financial year. Profits before tax doubled to €4.6 million from €2.3 million. The company’s basic earnings per share grew 10.4 cent from 4.5 cent.