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IG Group revenue rises as volatile markets boost volumes

Published 22/03/2016, 07:42
Updated 22/03/2016, 07:42
© Reuters. Dealers work on the IG Group trading floor in London, Britain

© Reuters. Dealers work on the IG Group trading floor in London, Britain

(Reuters) - IG Group Holdings Plc (L:IGG), a British online trading company, reported an 18 percent rise in third-quarter revenue as traders speculated more during heightened market volatility.

IG Group, the UK's first financial spread betting company, also said discretionary remuneration and online marketing spend would hurt its fourth-quarter and full-year performance.

The company, which provides online stockbroking and trading services to retail investors, said revenue rose to 122 million pounds for the quarter ended Feb. 29, from 103.6 million pounds a year earlier.

Global markets have shown increased volatility in recent months, driven by speculation on a slowdown in China and falling commodity prices.

IG Group, which was founded in 1974, said revenue in the UK and Ireland, its largest market, rose 13 percent to 62.7 million pounds, while Europe saw a rise of 24 percent.

The company, which has over 136,000 clients worldwide, said active clients rose 11 percent, while revenue per client rose 5.7 percent in the quarter.

© Reuters. Dealers work on the IG Group trading floor in London, Britain

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