IG lifted by market volatility

SPREAD-BETTING company IG Group has benefited from the current market volatility which drove up trading volumes and sales.

IG reported on Tuesday first-quarter revenue of around £100m, up 26 per cent, added that its pretax profit margin was higher.

"The group remains well capitalised and is well positioned competitively. The board remains confident in the prospects for the group," the company said.

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