Volatile markets boost UK's IG Group revenue 12%
March 13 (Reuters) - British online trading platform IG Group IGG.L reported a 12% jump in third-quarter revenue on Thursday, as more clients used it to trade stocks and derivatives in volatile markets.
Its shares, which surged about 29% in 2024, rose 4.5% to 966.5 pence by 0830 GMT.
Global markets have remained turbulent since U.S. President Donald Trump's second term began. Volatility, which the company expects to continue, generally boosts client transactions on spread betting platforms such as IG, CMC Markets CMCX.L and Plus500 PLUSP.L.
In a trading update, IG said "strong" market conditions led revenue to grow to 268 million pounds ($347.1 million) in the three months to Feb. 28, and its active clients, which include retail traders and institutional investors, to increase 5% from the prior quarter.
IG said it was on track to meet fiscal 2025 consensus expectations of 1.03 billion pounds in revenue and 494 million pounds in adjusted pre-tax profit.
In January, IG reported a 30% leap in first-half profit, but its CEO highlighted areas for improvement, including in cryptocurrencies.
The firm "remains focussed on closing product gaps, including crypto, and enhancing existing offerings," it said on Thursday.
IG, which has been trying to add customers via acquisitions and product launches, said its recent acquisition of investment platform Freetrade would close in April, sooner than originally expected.
($1 = 0.7720 pounds)
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