IG sees record-breaking quarter

Ollie Gordon
ONLINE trading company IG Group will break its own quarterly revenue record when it reports its second quarter results today, the group announced yesterday in a pre-close trading update.

The spread betting specialist said that in contrast to its subdued first quarter, client activity levels increased significantly in the second quarter, particularly in October, with the financial markets presenting substantially more trading opportunities.

“The company performed very well over this period and will achieve quarterly revenue ahead of its previous highest quarter at the end of the 2013 year. This will place IG in a robust position as it enters the second half of the financial year,” it said in a statement.

Numis analysts James Hamilton, David McCann and Jonathan Goslin have forecast IG’s second quarter revenues to total £106.5m. IG’s previous record quarterly revenue stands at £104.2m.