IG benefits from Singapore growth as sales rise to £367m

STRONG growth in Singapore and South Africa has helped spread betting firm IG Group to increase revenue by more than a sixth.

The FTSE 250 firm, which allows retail investors to bet on financial derivatives, said it expects to post a 17 per cent rise in net trading revenue to £366.8m for the year to 31 May.

Sales rose fastest in the rest of the world section, climbing 43 per cent to £28.4m, driven by improved revenue per client in Singapore and a higher number of active clients in South Africa.

It also posted solid growth in the core territory of Britain, where revenue rose 15 per cent to £191.8m. Sales in Europe rose 26 per cent to £72.2m.

IG, which will report full year results on 17 July, said the strong first half to the year will make for challenging comparatives in future but that it “remains well positioned for further growth in the coming year”.

The firm has picked up clients from MF Global, the US broker which collapsed in October last year.