IG Group achieves record revenue in first half

IG Group published record revenues for the six month period to November 30, 2016.

Net trading revenue in the first half of the year totalled £244.9 million (€305.5 million/€284.3 million), up 14% on the amounted collected in the corresponding period in 2015.

Profit before taxation stood at £105.6 million, 7% up on the previous year, while profit after taxation also climbed 9% year-on-year to £83.3 million.

Own funds generated from operations in the first half amounted to £93.9 million, 8% more than the £87.2 million recorded in the opening six months of 2015.

Aside from its financial results, IG Group also announced that the 'Sprints' binary product will no longer offered to new clients with immediate effect.

Peter Hetherington, chief executive of IG Group, said: “This has been another good six months for the business, with record revenue, a new high in active client numbers and ongoing success in attracting and developing the next generation of traders.

“The business once again proved the resilience of its operating model and its people, as it dealt exceptionally well with the short term volatility in the financial markets caused by two significant political events.

“IG is evolving and refining its offering to clients; strategically, for some time, we have been shifting our emphasis to active financial trading and investing, deepening and broadening the relationship with our clients.

“We welcome the intentions of the FCA and other European regulators to improve consumer outcomes across the industry, and we believe that IG's Limited Risk account will play an important role in this.

“In delivering a sustainable business for over 40 years, IG has always sought, and will always seek, to operate to the highest regulatory standards.”

Related articles:

Banc de Binary to cease trading

IG Group allays fears over new French regulations