IG Group records impressive revenue rise

19 January 2016

Financial trading and spread betting firm IG Group generated a rise in net revenue in the six months through to November 30, 2015.

The company, in its interim results, said that net revenue grew by 8.8% year-on-year to £214.8 million (€282.7 million/$307.3 million). Profit before tax slipped by 2.8% to £98.6 million.

IG Group added that new client numbers were up by 35% on the previous year, while administrative expenses rose by 18.7% due to “ongoing investment in future growth”.

New chief executive Peter Hetherington said: “The business continues to perform well and I am pleased with the progress on the strategic initiatives we are investing in to underpin the future growth of the company.

“Building on our strong operational and risk management capabilities, we are driving continuous improvement and value from the current business.

“At the same time, we are laying foundations for broadening the IG offering, to take advantage of supportive macro trends in financial behaviour, by leveraging the market-leading platform we have built.”

Related article: IG Group names Ward as interim chief financial officer