LONDON (ShareCast) - (Sharecast News) - IG Group Holdings upped its dividend on Thursday after the online trading platform posted record revenues of more than £1bn.
The firm said total revenues in the year to 31 May had risen 5% to £1.02bn, the first time they had topped £1bn.

Within that, net trading revenue eased 3% to £941.8m, but interest income surged to £80.8m from £800,000 a year previously, on the back of higher borrowing costs.

Overall active clients numbers were down 6% year-on-year at 358,300, although that is still twice pre-pandemic levels.

Adjusted pre-tax profits eased 1% at £490.5m, while earnings per share dipped 2% to 94.7p, broadly in line with consensus.

A dividend of 45.2p was proposed - up from 44.2p a year ago - alongside a new £250m share buyback programme.

Charlie Rozes, acting chief executive, said: "We've performed well in the much more difficult market conditions that persisted through most of the past year, maintaining our leadership position in OTC derivatives while building further momentum in our product and geographic expansion.

"Looking ahead, we're well positioned to continue investing for growth, given the strength and consistency of our cash flow and balance sheet. We keep a close watch on profit margins and in the 2024 full year will continue to look for opportunities to achieve even greater cost efficiency."

As at 0945 BST, shares in IG were ahead 5% at 726p.

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