7th Sep 2007 07:01
IG Group Holdings plc07 September 2007 7 September 2007 IG GROUP HOLDINGS PLC Interim Management Statement IG Group Holdings plc ("IG" or "the Group") issues the Group's first InterimManagement Statement in accordance with the new EU Transparency Directive andrevised UK Listing Rules. Unless otherwise stated, trends and figureshighlighted below refer to the three months ended 31 August 2007 and thecorresponding period last year. Group revenue for the quarter was in excess of £40m, compared to approximately£25m in the corresponding quarter the prior year, an increase of over 60%. The Group's financial business benefited from high levels of equity marketvolatility, particularly in July and August. Volatility is an importantshort-term driver of client activity and as a result the Group has achievedstrong growth across its financial business with revenue approximately 70%higher than in the equivalent period of the prior year. While this performance is encouraging, it has benefited from the prolongedmarket volatility during the period. It remains impossible to predict futuretrends in volatility or customer reaction to any changing market conditions. As previously reported, during July the Group released its new financial dealingplatform, PureDeal, and also extended its TradeSense client education programmeto cover its Australian CFD business. Both of these initiatives have been verywell received by clients. The Group is well advanced in its plans to roll theseinitiatives out across the remainder of its financial business. The strong momentum seen at the end of the last financial year in relation tothe number of financial accounts opened, which the Group considers a key leadindicator, has continued into this financial year. The Group's sports business continues to make good progress, achieving revenuegrowth of approximately 15%, against a challenging comparative period whichincluded the benefit of the football world cup. As previously reported, the Group expects to open new offices in France andSpain in the second quarter of the financial year. The Group has had a stronger start to the financial year than it had expected,largely as a result of market conditions. The board remains confident in theprospects for the full year. For further information please contact: IG Group 020 7896 0011Tim Howkins, Chief ExecutiveSteve Clutton, Finance Director Financial Dynamics 020 7269 7200Robert BailhacheNick Henderson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IG