IG Group revenues grow on 'strong' Q1 performance
By Iain Gilbert
Date: Tuesday 26 Oct 2021
(Sharecast News) - Online trading platform operator IG Group said on Thursday that it had delivered a "strong first-quarter performance", driven by the size and quality of its client base.
IG Group stated adjusted group revenues were £221.7m in the three months ended 31 August, in line with expectations and higher than both the same period in the prior year and its previous quarter performances of £209.0m and £214.1m.
The FTSE 250-listed firm added that in the approximately two-month period since the completion of its acquisition of Tastytrade, the unit had delivered revenues of £20.8m.
Total active clients were up 12% in the quarter to 287,200, while new client acquisitions somewhat moderated during the period, as expected, hitting 27,500.
"The strong business performance in the quarter reflects the size and quality of the group's active client base. The group remains confident of achieving its medium-term targets for the Core Markets+ and High Potential Markets portolios," said IG Group.
As of 0855 BST, IG Group shares were up 4.21% at 866.50p.
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