IG Group first-quarter revenues rise 11%
By Michele Maatouk
Date: Thursday 15 Sep 2022
(Sharecast News) - IG Group reported an 11% jump in first-quarter revenue on Thursday amid solid client retention, despite a quieter market.
Revenues rose to £241.8m. On a pro forma basis, which includes a full quarter of revenue from Tastytrade in the comparative period, total revenue was up 7%.
Total revenues in Core Markets+ rose 5% to £200.3m in the quarter. IG said its "high-quality client base" continued to actively trade through the period.
Meanwhile, High Potential Markets total revenue grew 56% to £41.5m, reflecting an additional month of Tastytrade as well as strong growth rates in Spectrum and IG US.
Tastytrade total revenue was up 62%, or 15% on a pro forma basis.
Total active clients across all markets and products were in line with the prior year at 279,300, which IG said reflects "the retention of the significantly increased number of active clients over the past two years".
The group onboarded 19,200 new clients, down 27% on the first quarter of the prior year, as expected.
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