IG Group ‘on track’ to hit full-year targets

28 May 2015

Financial spread betting provider IG Group Holdings has revealed in a trading update that it remains “on track” to deliver against full-year expectations for the 12 months through to May 31.

The company will enter its close period on June 1 and is not due to post full-year results until July, but has already suggested that its performance during the last 12 months has been good enough to hit certain targets.

IG Group also noted that it has so far enjoyed a “solid” fourth quarter and has made “good strategic progress” in recent times.

“As the company approaches the end of a solid fourth quarter, it remains on track to deliver against full-year financial expectations,” IG Group said in the trading update.

“Importantly, IG also made good strategic progress over the period, extending its stockbroking offering into the Netherlands and receiving approval in-principle of its regulatory licence in Dubai towards the end of May, which should enable full authorisation and the opening of its office there in the coming weeks.”

The declaration comes after the firm posted impressive results for the three-month period through to February 28 of this year.

Underlying revenue during the period was up 7.1% on a year-on-year basis due to success across IG Group’s operations in the UK, Australia and rest of the world.

Related article: IG Group reports ‘good progress’ in third quarter