IG Group reported a record quarter, with net trading revenue up by 16 per cent to £471.9m.
The online trading platform reported that profit before tax increased eight per cent to £245.2m, while adjusted profit before tax increased 13% to £258m.
Active clients increased 42 per cent to 320,400, reflecting the acquisition of tastytrade.
The US financial network tastytrade showed strong growth, delivering revenue of £52.8m in the five months since acquisition, increasing 29 per cent on the comparable period in the prior year.
IG also acquired 53,600 new clients, which although was lower than 2021, the firm said this was anticipated and still significantly higher than pre-pandemic client acquisition.
The FTSE 250 firm also announced that revenue hit £401m in Core Markets, reflecting the high quality of its client base despite less volatile market conditions
June Felix, chief exec, commented: “This has been a period of outstanding performance with record revenues and profits. Since we launched our new strategy three years ago, the group has transformed from a UK-centric, CFD focused firm, to a global financial technology company with a multi-product trading platform”
“One of the key factors behind the success of this transformation is our ‘global reach, local focus’ which allows us to act with agility to tailor our offerings. Our outstanding growth in Japan is a strong illustration of this approach.”
“As a group, we have multiple growth levers and a significant total addressable market. The ‘size of the prize’ is clear, and we are ready to capitalise on these opportunities as we continue to deliver on our strategic priorities and targets.”