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IG Group Holdings plc (LON:IGG), a leader in spreadbetting and CFD trading, earlier today published its preliminary financial results for the full year to May 31, 2015.
The metrics are solid, although the company admits that they were affected by the Swiss franc events from January 15, 2015. In the face of these events, the fall in profits was marginal: pre-tax profits decline my mere 0.9% to £193.2 million.
Underlying revenues were robust and staged a 8% rise to £400.2 million. The latter number obviously reflects IG’s successful efforts to expand its business in new regions and market segments.
Below are the highlights for IG’s full year to May 31, 2015:
- Good growth in revenue; underlying up 8% at £400.2 million; reported up 4.9% at £388.4 million
- Reported results impacted by Swiss franc event in January 2015
- Higher operating costs reflect significant investment in future growth
- Underlying profit before tax down 0.9% to £193.2 million; reported profit before tax down 13%
- Underlying diluted EPS up 2.1%; reported EPS down 10.5%
- Full year dividend maintained at 28.15p; final dividend of 19.70p
- Active client growth across all regions
- Execution-only stockbroking service launched in the UK, Ireland and the Netherlands
- Extended into Germany and Austria in July 2015
- Swiss office progressing well since launch in October 2014; Dubai office opened in June 2015
- Signed partnership agreement with BlackRock to market ETF-based portfolios
- Tim Howkins, CEO, to retire at the AGM in October 2015.
Tim Howkins, Chief Executive, commented:
“2015 was another year of good progress on our strategic initiatives, coupled with a solid underlying set of financial results. As part of our product and geographic diversification strategy, we launched our execution-only stockbroking product in the UK, Ireland and the Netherlands and extended it into Germany and Austria after year end. We also successfully acquired licences and opened offices in Switzerland and Dubai.
IG celebrated its 40th anniversary in November; this longevity is based around putting clients first and the commitment of our dedicated employees across the world. I believe that the strategy we are pursuing will broaden the appeal of IG further and deliver growth into the future.”
The results announced today are in tune with the fourth-quarter trading update IG published in May this year.
To view the official announcement by IG Group on its annual financial metrics, click here.