IG Group enjoys ‘strong’ start in first quarter
Spread betting company IG Group has revealed it was able to achieve a “strong” set of results during the three months through to August 31, 2015.
Revenue in the first quarter amounted to £106 million (€146.9 million/$164.1 million), which represents an increase of 24% on the £85.6 million posted in the corresponding period last year.
The UK and Ireland continues to be the most active market for IG Group, with its revenue derived from operations in the region totalling £56.4 million, up 23% on a year-on-year basis from the £45.9 million achieved in Q1 of 2015.
The company also recorded year-on-year revenue growth across its operations in Europe, Australia and the Rest of World, with the latter of these experiencing a 54% jump in revenue to £13.9 million.
IG Group also saw an increase in the overall change in active clients during the quarter, with this up 19% across its entire operation.
Rest of World saw the biggest jump with 28% more active clients, while the firm also noted an increase in clients across its operations in UK and Ireland, Europe and Australia.
Change in revenue per client was up 3.6% year-on-year across the business, with this figure being boosted by a 20% increase within IG Group’s operations in the Rest of World region.
UK and Ireland and Australia also recorded increases, but IG Group’s business in Europe saw revenue per client down by 4.4% in the quarter.
“This strong start to the year positions the business well to deliver against full year expectations,” IG Group said in a statement.
“However, it is impossible to predict the market conditions for the rest of the year and therefore too early to draw many conclusions.
“IG has a clear strategy and will continue to execute against its priorities, which this financial year include rolling out the stockbroking offering to additional countries, launching ETF portfolios, delivering further improvements in the client conversion process and moving the mobile interface forward.”
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