LMAX sees £13.2m annual loss

LMAX, the retail trading platform owned by Betfair and Goldman Sachs, made a £13.2m loss in the year to the end of April as an £149,000 gross profit was dwarfed by almost £13.5m of costs. LMAX, which launched last October, had revenues of just £271,000. The company has reassessed its target market after chief executive Robin Osmond resigned in April, it said.