11th Mar 2021 08:59
(Alliance News) - IG Group Holdings PLC shares rose 3.8% on Thursday after it reported "exceptional" levels of trading activity in the third quarter of its financial year.
The stock was trading at 841.50 pence a share in London after jumping as high as 862.75p at the market open. IG shares are up 32% in the past year, amid high trading activity throughout the pandemic.
The online trading platform reported revenue of GBP230.3 million for the three months to the end of February, up 65% year-on-year and up 11% on the second quarter. This was driven by sustained elevated levels of trading from existing clients and high levels of client acquisition.
The FTSE 250-listed company said a record number of 230,100 clients were active in the quarter, representing growth of 60% year-on-year. The level of revenue per client was maintained at similar levels to those reported in the first and second quarters and 9% higher than in the prior year.
In the quarter 40,300 new clients placed a first trade, IG Group said, up 81% on the prior year's third quarter.
Going forward, the company said it is in a strong position to deliver on its growth strategy and will continue to optimise its resources to deliver longer term attractive growth.
"I am delighted with the excellent results and progress we have made towards delivering on our strategic goals," said Chief Executive June Felix.
"Operationally, this has been one of the busiest periods in IG's history, and our global workforce has responded with the kind of dedication, resilience and professionalism that is embedded in the IG culture," added Felix.
By Evelina Grecenko; [email protected]
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