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Strong December Fuels Earnings of IG Group

IG Group, the UK-based financial services provider behind brands like Forex broker IG Markets, today reported results for the three months to the end of February 2014. Earnings for the three-month period were solid on the back of “unreasonably strong December”, the company said in a press release out this morning. 
 
Revenues for the three months, which form the third quarter of IG Group's financial year, amounted to GBP 96.7 million (USD 161m), which marked a rise of 9% against the equivalent period a year ago. Moreover, the quarter was even stronger than the preceding one, with revenues up by 8.5% from the GBP 89.1 million recorded in the three months to the end of November 2013. This is one more solid quarter for IG Group.
 
It's time to take a look at how different markets performed.
 
 
 
You can see a rise in the revenues from the UK and Australian markets – in the UK the increase is particularly impressive at 24%. At the same time, the number of active clients in these regions was down year-on-year: the group attributed this pattern to its strategy of focusing on higher value clients. Europe was a strong performer too, with both revenues and numbers of active clients up on an annual basis.
 
Spurred by the robust metrics for the previous three quarters, IG Group voiced an upbeat note about its full-year results. It forecasts revenues ahead of the reading achieved last year and in tune with expectations. The company also pledges technological enhancements, geographical expansion and boost to the product lineup. We'd be waiting to see more innovations after in January this year IG started an American Depositary Receipt (ADR) program, under the symbol IGGHY, with the support of Citi that acted as the depositary bank. 
 
 

About IG Group

 
IG Group Holdings plc is a United Kingdom-based company. The IG Group is a global provider of contracts for difference (CFDs) and spread betting to retail investors. IG, through its main brands, IG Index and IG Markets, provides over 14,000 spread betting and CFD products on a range of financial markets, including Forex, stock indices, shares, commodities, binaries, options and interest rates. IG Group Holdings plc, the parent of the IG Group, is listed on the London Stock Exchange. The IG Group employees approximately 1,000 people worldwide and has offices in the UK, France, Spain, Portugal, Germany, Italy, Sweden, Netherlands, Luxembourg, Japan, Australia, South Africa and Singapore.
TAGS: ig group  ig markets  ig forex broker  uk forex broker  third quarter  fiscal results  financial performance  ig group revenues  revenues  forex clients  clients  traders  forex traders  uk market  australian forex  2013  2014  fy results  fy 

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