LONDON (ShareCast) - (Sharecast News) - Online trading provider IG Group said on Wednesday that third-quarter revenues had been its highest of the year, driven by continuing momentum across its businesses as it looks to deliver on its strategy to expand and diversify.
IG Group stated overall revenues were up 13% at 257.2m, as a 4% increase in OTC leveraged derivatives revenue to £219.3m more than offset a 54% crash in stock trading and investments revenue to £6.6m, while a jump in exchange-traded derivatives from £1.9m in 2021 to £31.3m in 2022 was responsible for most of the outperformance.

The FTSE 250-listed firm also said it had seen an all-time high in the number of active clients at 292,200, up from 220,900 at the same time year earlier.

First trades in the quarter of 25,600 were down 32% on the prior year but continued to be "significantly higher| than the pre-pandemic quarterly average of 13,200.

Looking forward, IG Group anticipates that full-year revenues were "modestly exceed" current market expectations and said it remains "well positioned for the future".

Chief executive June Felix said: "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."

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