Pretax losses treble at SFS in final year of business

Pre-tax losses more than trebled at spread-betting firm, Shelbourne Markets, to €1.33m, in its final year in business.

SFS Markets Ltd, formerly Marketspreads Ltd, sold its spreadßbetting business to a UK firm in July of last year. Newly filed accounts show that directors of SFS Markets — trading as Shelbourne Markets — made the decision after further losses were incurred in 2014 as revenues plummeted.

The €1.33m loss for the seven months to the end of last July followed a loss of €435,927 for the whole of 2013. Revenues dived from €3.22m to €968,609 last year.