IG boosted by market volatility

City A.M. Reporter
The recent market volatility and heavy trading volumes have boosted sales at British spread-betting company IG Group, the company said.

IG said it now expected revenues of more than £94m for the quarter ending 31 August, up from £79m in the corresponding period a year earlier.

"IG Group Holdings has benefited from record levels of client activity in the recent market volatility, despite it being holiday season in the majority of the countries in which the group operates," the company said in a statement.

IG, which says it is the world's biggest spread-betting company by revenue, competes with unlisted rivals such as CMC Markets and City Index.

The company had issued a profit warning in January after weak trading volumes at the end of last year affected its business performance.