IG Group reveals widespread financial growth in Q1

IG Group has reported year-on-year revenue growth in various markets during the three months to August 31, the first quarter of its 2018 financial year.

Group revenue in the period came in at £135.2m (€153.5m/$182.6m), which represents an increase of 21% on the £111.4m recorded in the corresponding quarter last year.

The UK remains the main source of income for IG Group, with revenue from activities in the market amounting to £558.8m, up 11% on last year.

Revenue in the EMEA region also jumped 31% in the first quarter to £39m, while revenue from APAC climbed 32% to £33.1m.

IG Group also noted an overall hike in clients during the opening three months of the financial year, with the 124.9m at quarter-end 9% higher than last year.

The company’s share dealing and investments business saw the most growth in terms of clients, with the total number of customers up 135% year-on-year to 24.2m.

However, IG Group did note a 10% decline in the number of UK clients, while the company saw customer numbers in the APAC region drop 2%.

Meanwhile, IG Group has announced that Kieran McKinney is to step down from his role as director of investor relations and corporate affairs at the company.

McKinney has headed up the firm’s external communications activities for the past five years and also served as a member of the executive committee.

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