IG Group benefits from higher client spend as quarterly revenue rises
IG Group Holdings PLC on Thursday said improved market conditions and increased client numbers helped drive higher revenue in its third quarter.
Total revenue increased by 12% to £268.0 million in the three months to February 28, the financial third quarter, from £240.1 million a year prior.
Within this, trading revenue of £235.3 million increased 15% from £204.9 million a year ago. Growth was driven by higher revenue per client as a result of stronger market conditions.
Active clients increased 2.2% to 272,700 from 266,800 a year ago, and by 4.5% from 261,000 in the previous quarter.
Net interest income fell 7.1% to £32.7 million in the quarter from £35.2 million a year prior, reflecting lower interest rates and stable client money balances.
In the first nine months of the financial year, total revenue increased by 11% to £790.5 million from £712.7 million a year prior.
Trading revenue rose 13% to £687.0 million from £607.3 million a year ago.
Net interest income fell 1.8% to £103.5 million from £105.4 million a year prior.
Shares in IG rose 4.4% to 966.00 pence each in London on Thursday.
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