IG Group warns on tough final quarter despite revenue increase

BRITISH spread-betting company IG Group yesterday warned it would face tough comparatives in the final quarter of the year after it posted revenue up ten per cent in the third-quarter due to increasing client activity.

IG said volatility which typically boosts client activity had been generally low in the last quarter and particularly subdued in December and most of February, but increased towards the end of that month.

Trading was boosted in Britain on a like-for-like basis of nine per cent, revenue grew 18 per cent at the European offices, with Germany particularly strong, while Singapore was up 46 per cent from a low base.

However despite the improvement it warned that the group faced challenging comparatives in the final quarter of the year.