IG Group sees 13% rise in Q3FY22 revenue

IG Group Holdings plc has published its trading report for the third quarter of the financial year 2022.

In the three months between December and February, the company saw a 13% jump in revenue. IG Group’s revenue for the quarter reached £257.2 million, compared to the Q3FY21’s £226.7 million

The company noted that comparing the third quarter to last year’s third quarter was challenging as it saw extraordinary volatility related to ‘meme stock’.

Of the total revenue, OTC leveraged derivatives accounted for £219.3 million, increasing 4% on yearly basis. However, stock trading and investments dropped 54% in Q3FY22 to £6.6 million.

IG Group

IG Group’s CEO, June Felix, commented:

June Felix, IG Group

June Felix

I’m delighted to be reporting another quarter of outstanding performance driven by a record number of clients trading in the period.

All-time high number of clients

IG Group also reported a record number of active clients. During the third quarter, the numbers reached 292,200, compared to the same period last year when it came in at 220,900.

June Felix added:

Today, we have more clients and a broader range of products to trade than ever before in our history. But we aren’t stopping here – a new IG is emerging, and we’re excited by the opportunities ahead of us, building on our strengths and track record of delivery.

In the outlook for the full year, IG Group said it expects FY22 revenue to moderately exceed current market expectations. The company’s Core Markets+ segment remains strong, the group pointed out.

However, for tastytrade, revenue growth may stay below the previously guided 25% -30% range for the full year, due to slower growth in US options trading volumes in the third quarter.

Earlier in February, IG Group announced the appointment of Barbara Duffy as Chief People Officer.

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