4th Jun 2020 10:05
(Alliance News) - IG Group Holdings PLC on Thursday said increased levels of trading activity has resulted in higher-than-anticipated level revenue in its fourth quarter.
Shares in the online trading platform provider were 0.8% lower at 789.50 pence each.
In April, the FTSE 250-listed company said its quarter to date net trading revenue was estimated to be around GBP173 million.
However, on Thursday it said that due to greater financial market volatility and high levels of client trading activity, it expects net trading revenue in the fourth quarter ended May 31 of GBP259 million, more than double the GBP117.9 million achieved a year ago.
Full-year net trading revenue is now expected at GBP649 million, a 36% rise from GBP476.9 million.
IG Group added its ongoing investment in communications and infrastructure has enabled all employees to work safely from home, thereby ensuring continuity in its operations.
Full unaudited results for financial 2020 will be published on July 23.
By Ife Taiwo; [email protected]
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