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Revenues at IG Group Climb 15% Y/Y in Q1

IG Group, the global FX and CFD broker, has just published an interim statement, containing some key performance metrics for the first quarter of its fiscal year. 

 
Total revenues for the three months to August 31, 2013 reached GBP 93.6 million (USD 149m), a jump of 15% against the corresponding period a year earlier, when revenues amounted to humbler GBP 81.5 million. The robust performance was underpinned by a 31% increase in revenues in Europe and a substantial 16% rise in the UK. The Australian business brought some disappointment, with the revenues falling due to the weakness of the AUD and the low-key consumer sentiment. 
 
The quarter-on-quarter comparison revealed a subdued picture: the revenues in the first fiscal quarter were 10.3% lower than the GBP 104.3 million recorded in the fourth quarter of the preceding financial year. The company itself confessed that the year-on-year comparison was somewhat flattered due to the weak performance in the first quarter of last year. 
 
And now let's take a peek at some operating metrics: the count of active clients fell by 5% against the respective three-month period a year ago, but the company attributed this to deliberate strategical planning, envisaging a focus on top-tier clients. That is why the bulk of the drop was due to a decline in the number of clients from the low-value range.
 
In relation to this, the average revenues per client remained robust and even rose by remarkable 21% from a year earlier. 
 
IG has now marked a strong beginning to the fiscal year, with the quarter enjoying significant business events like the launch of the Metatrader 4 platform for the company's clients. But the financial group tries not to be too proud and cites the strong second half of the preceding fiscal year as a tough comparison period. 
 
You can read the full report 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  uk forex broker  first quarter fiscal year 2014  first quarter revenues ig  q1 performance ig group  first quarter  total forex revenues  forex active clients 

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