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Revenues at IG Group Grow 2% Y/Y in Q2

IG Group, the global Forex and CFD broker has just published the results for the second quarter of its fiscal year, with revenues staging a modest rise of 2% against the corresponding period a year ago.

 
The revenues for the three months to the end of November 2013 amounted to GBP 89.1 million (USD 146m), compared with GBP 87.5 million recorded in the equivalent period a year earlier. The rise was fuelled by robust performance of the European operations of the group, where the revenues were up by massive 21% year-on-year. The UK business maintained their metrics stable, while Australia's climate was rather unfriendly for the group, with revenues down 6% year-on-year.
 
The broker also reported its figures for the first-half of the fiscal year, with net trading revenues at GBP 182.7 million, a rise of 8% from the preceding year, while pre-tax profits were also strong and increased 17% to GBP 95.1 million. But you must be interested in the profit after tax, well -  the net profit amounted to GBP 71.7 million, edging up from the GBP 58.6 million seen in the equivalent six-month period a year earlier.
 
The release comes after an update in November, during which IG's management warned that the market was rather uninspiring but forecast that metrics would be ahead of levels seen in the second quarter of the preceding year. Back then, IG's management also noted that performance of peers like FXCM and GAIN Capital, by the way that's a nice taste for peers, were also experiencing the effects of softer volatility. The tone was, however, optimistic, as IG has a very diversified business portfolio – from Forex to CFDs and even binary options in Japan.
 
Looking at the results, we see that the forecasts of IG's management were correct.
 
You can read the full report of IG Group here
 

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 group forex broker  ig group results  second quarter  revenues  profit  australia forex  financial metrics  financial performance  forex results  uk forex  europe forex 

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