IG Group Q1 revenues grow
By Iain Gilbert
Date: Thursday 12 Sep 2024
(Sharecast News) - Online trading business IG Group said on Thursday that total revenues had grown in the three months ended 31 August.
IG Group said total revenues were up 15% year-on-year at £278.9m, reflecting higher revenue per client supported by elevated volatility across a range of asset classes in early August. Total active clients, however, slipped 1% to 263,000.
Within total revenue, net interest income was £36.8m, up from £34.4m a year earlier, which £13.7m related to OTC derivatives, £18.4m to exchange-traded derivatives and £4.7m to stock trading and investments.
Looking forward, IG Group continues to expect its FY25 performance to be in line with market expectations.
IG Group also noted that the first £75.0m tranche of its £150.0m share buyback programme was completed on 9 September, with the second tranche set to begin shortly.
As of 0855 BST, IG shares were up 1.04% at 970.0p.
Reporting by Iain Gilbert at Sharecast.com
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