17th Sep 2013 07:05
LONDON (Alliance News) - IG Group Holdings PLC Tuesday said its first-quarter revenue increased 15%, buoyed by sales in the UK, Europe and the rest of the world.
IG Group said made GBP93.6 million in first-quarter revenue, compared with GBP81.5 million for the corresponding quarter 2013.
IG Group said it made a solid start to the year bur aired caution because last year's second-half was particularly strong, hinting that it might not be able to replicate the performance.
The 15% increase in revenue was composed of a 16% revenue increase in the UK to GBP47.5 million; 31% growth in Europe to GBP20.2 million; and a 21% rise in IG's Rest of World category to GBP8.5 million.
However, the company said its sales contracted in Australia because of a lack of confidence from consumers ahead of the recent election and the weakness of the Australian dollar. IG also saw a sales decline in Japan. Combined, Japan and Australia contributed GBP600,000 less during the first-quarter than they did at the same time last year.
IG said it was well on the way to moving its UK and Australia websites to the new IG.com domain and will look to have the website go live, for the most part, by the end of the second-quarter. It has also begun promoting the MetaTrader 4 platform in order to gain a even greater foothold in the foreign exchange market.
IG Group shares Monday closed at 594.5 pence, up 3.5 pence, or 0.6%.
By Samuel Agini; [email protected]; @samuelagini
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