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  • IG Group releases record revenue first quarter 2018, Kieran McKinney to leave the Group


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    IG Group trading floor

    UK online trading leader IG Group Holdings plc (LON:IGG) today announced the following update on its revenue for the three months to 31 August 2017, the first quarter of its 2018 financial year. The trends and figures highlighted below refer to this period and the corresponding period last year.

    IG delivered a record revenue quarter, in relatively quiet financial markets. At £135.2 million, revenue was 21% ahead of the first quarter of the prior year (£111.4 million). The prior year period was impacted by proactive management actions to protect clients from the extreme volatility at the time of the UK’s EU Referendum.

    IG Group revenues Q1 2018

    Revenue and key performance indicators by reporting segment are as follows:

    Client numbers in the UK were, as expected, lower than in the equivalent quarter in the prior year due to the particularly strong new client inflow in the prior period reflecting the short-term trading opportunities created by the EU referendum in June 2016.

    The retail leveraged trading industry is under scrutiny by regulators globally, with particular emphasis in the UK and Europe. IG will continue to lead the way in the industry with respect to how it markets its services, how it deals with clients, and through the products and levels of client service it offers. IG believes in doing the right thing, rather than simply complying with minimum regulatory requirements.

    Although none of the recently announced regulatory changes have adversely impacted the business to date, as previously noted, the nature and timing of potential regulatory changes in the UK and some other key markets for the Group remain uncertain. It is therefore difficult to predict what impact, if any, regulatory change may have on the Group this financial year and beyond.

    Kieran McKinney

    Paul Mainwaring, Chief Financial Officer and Kieran McKinney will hold a conference call for analysts and investors at 8.30am (UK time) today. The call can be accessed by dialing +44 20 3059 8125. The audio recording of the conference call will be archived for access at www.iggroup.com/investors, along with a full transcript.

    Note that Kieran McKinney will be leaving the Group. Liz Scorer will become the primary initial point of contact for investors and analysts with effect from the end of September.

    The next planned performance announcement from IG is a short pre-close trading update, currently scheduled for 5 December 2017.

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    IG Group releases record revenue first quarter 2018, Kieran McKinney to leave the Group

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