IG Group achieves record revenue in third quarter

IG Group has announced that it was able to post revenue of £122 million (€155.5 million/$174.6 million) in the three months to February 29, 2016, a record total for the company.

The figure, which represents an increase of 18% on the £103.6 million posted in the corresponding period last year, was boosted by growth across the company’s various operations around the world.

The UK and Ireland arm continues to serve as the main source of income, brining in £62.7 million in revenue, 13% more than in the previous year.

Revenue from the company’s business in Europe also increased by 24% year-on-year to £25.7 million, Australia grew 16% to £17.3 million and the rest of the world jumped 31% to £16.3 million.

IG Group was also able to record an increase in both active clients and revenue per client during the quarter, with the biggest increase in active clients coming from its European customer base.

Kieran McKinney, head of investor relations at IG Group, said: “Revenue in the third quarter reached a new record level of £122.0 million, 18% ahead of the same period in the prior year, and around 9% ahead of the second quarter of the 2015 financial year, the previous highest quarter.

“A constant flow of macro-economic news created reasonable levels of volatility in financial markets throughout the period, providing clients with a wide range of trading opportunities.

“It is impossible to predict the market conditions for the rest of this year, but IG enters the fourth quarter in a strong position, with good execution across the business and healthy new client inflow.

“Although operating costs continue to run in line with guidance, discretionary remuneration and online marketing spend will flex around the performance in the fourth quarter and the ultimate full year revenue out-turn.”

Relaetd article: IG Group records impressive revenue rise