Dubai and Netherlands moves set IG Group on track for targets

IG Group, led by chief executive Tim Howkins (right), expects to meet yearly forecasts
Online trading company IG Group said yesterday that it remains on track to meet full-year financial expectations.

In a trading update for the fourth quarter, IG said it made good strategic progress over the period, extending its stockbroking offering into the Netherlands and receiving approval in-principle of its regulatory licence in Dubai towards the end of May.

The firm, which was established in 1974 as a financial spreadbetting firm, said financial results for the year ending 31 May are expected to be announced on 21 July.

The update comes after the firm posted impressive results for the three-month period through to 28 February of this year.

Underlying revenue during the period was up 7.1 per cent on a year-on-year basis due to success across IG Group’s operations in the UK, Australia and rest of the world.

However the Swiss franc shock reduced revenue by £11.8m to £91.8m in that period, down 5.1 per cent from the same period last year.

Related articles