IG Group’s total revenue falls 7% in Q3FY23

IG Group Holdings plc has published its trading report for the third quarter of the financial year 2023.

In the three months between December and February, the company saw a 7% revenue fall. IG Group’s revenue for the quarter came in at £239.3 million, compared to the Q3FY22’s £257.2 million.

Year-to-date total revenue, however, remains strong at £758.4 million, 5% above the previous year. IG noted that its full year revenue remains withing its market expectations.

IG Group

The global fintech company noted that the third quarter was a “quieter quarter”, especially in December, when lower market volatility was observed compared to recent periods and the third quarter of the previous financial year.

IG further highlighted the benefits of its diversification strategy which led to the exchange traded derivatives reaching £52 million revenue in the last quarter, jumping 65% from the previous year. Stock trading and investments rose 19% to £7.9 million.

However, OTC leveraged derivatives dropped 18% to £179.4 million as a result from lower market volatility in Q3.

The revenue from Core Markets+ reflected the lower OTC derivatives performance bringing in £182.6 million, 18% down from previous year.

High Potential Markets’ total revenue in Q3, however, jumped 60% to £56.7 million as a result of strong growth across our US businesses, as well as the European ETD business

In July, IG Group announced a new £150 million share buyback programme, which the company extended by £50 million in January 2023.


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