Forex broker IG Group sees Q2 2016 revenue slightly up q/q

Forex broker IG Group sees Q2 2016 revenue slightly up q/q

IG Group, a UK-based online trading company, said on Monday it expects to post a slightly higher revenue in the second quarter of the fiscal year 2016, ending 31 May, 2016, compared to the previous quarter. The reason for this is that the company has performed well in quieter markets over the last three months.

In June-August 2015, or the first quarter of the current fiscal year, IG Group’s revenue amounted to GBP 106 million, which represents an increase of 24%, compared to the same period a year earlier, the company has said. The brokerage generated the highest revenue of GBP 56.4 million in the UK and Ireland in the first quarter, followed by Europe and Australia, where the generated revenue was GBP 20.8 million and GBP 14.9 million, respectively.

Although it is too early to predict how the full year will outturn, the Company remains on track as it approaches the second half, and it is pleased with the ongoing strength in client recruitment in all of its markets and the progress it is making on delivering its strategic initiatives, IG Group said in a notice published with the London Stock Exchange (LSE).

The company intends to announce in January 2016 its financial results for the six months ended 30 November, 2015.

IG is a multi-platform trading company and the first one to offer financial spread betting. It provides online trading services for shares, indices, forex, commodities and binary options on more than 10,000 financial markets. It has sales offices located in 17 countries, including the UK, Ireland, Germany, Austria and Netherlands.

Last week, the broker said it had completed the acquisition of UK online investment manager InvestYourWay, which is part of its strategic plan to expand its product portfolio. The acquisition will also serve the company in delivering its partnership with BlackRock, another investment manager, for exchange traded fund (ETF)-based investment portfolios, since the technology developed by InvestYourWay will be integral to the delivery of the ETF-based portfolios.

Source: londonstockexchange.com

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