16th Mar 2022 09:59
(Alliance News) - IG Group Holdings PLC on Wednesday said it expects annual revenue to beat moderately current market expectations, following a strong revenue performance in the third quarter of its financial year.
For the three months ended February 28, the London-based online trading platform posted net trading revenue at GBP257.3 million, up 13% from GBP226.7 million the same period a year before, driven by 4% growth from OTC leveraged derivatives at GBP219.3 million.
The number of active clients for IG reached an all-time high of 292,200, up 32% from 220,900.
Within OTC leveraged derivatives, which was the group's biggest contributor, IG noted an excellent performance from all regions, with increased trading in commodities and indices in particular.
For the financial year to date, adjusted revenue reached GBP723.3 million, up 14% from GBP635.3 million the same period a year prior, while the number of active clients rose 33% to 354,000.
Looking ahead, net trading revenue for the year ending May 31 is set to beat market expectations, which company compiled consensus has at GBP919.0 million. IG said its Core Markets+ segment remains strongly positioned following consecutive quarters of revenue, and is well placed to benefit from its largest ever client base.
"I'm delighted to be reporting another quarter of outstanding performance driven by a record number of clients trading in the period. Today, we have more clients and a broader range of products to trade than ever before in our history. But we aren't stopping here - a new IG is emerging, and we're excited by the opportunities ahead of us, building on our strengths and track record of delivery," said Chief Executive Officer June Felix.
Shares in IG Group Holdings were down 2.9% at 760.50 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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