Market rally helps IG Group to prosper

City A.M. Reporter
SPREADBETTING company IG Group yesterday said strengthening global equity markets had helped it to an eight per cent annual increase in quarterly revenue.

The business, led by chief executive Tim Howkins, said trading revenue was expected to be £104.3m for the three months ending May.

Plunging gold prices, turmoil in Cyprus, and movements in the Yen and the Nikkei all attracted more customers to take a punt on the market, helping take second half revenues 13 per cent higher versus last year.

It added that its full year profit before tax is expected to be ahead of last year’s number.

“Better market conditions began to produce more trading opportunities for clients,” the company said in a statement.