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IG Group Hldgs plc - Pre Close Trading Update

RNS Number : 8848O
IG Group Holdings plc
04 June 2020
 

 

4 June 2020

LEI No: 2138003A5Q1M7ANOUD76

IG GROUP HOLDINGS PLC
Pre Close Trading Update

 

IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, today issues a trading update for the fourth quarter of its FY20 financial year ("Q4 FY20") and its financial year ending 31 May 2020 ("FY20"), ahead of entering its close period.

 

Trading Update

The Group issued a Q4 trading update on 24 April 2020 which noted that quarter to date net trading revenue was estimated to be around £173 million.  Financial market volatility has remained elevated and the Group has continued to see high levels of client trading activity. Net trading revenue in Q4 FY20 is now estimated to be approximately £259 million (Q4 FY19: £117.9 million), with full year net trading revenue anticipated to be approximately £649 million (FY19: £476.9 million).

 

Business Continuity

As previously announced, the Group has successfully implemented its comprehensive business continuity plan in response to the COVID-19 virus. The Group's ongoing investment in communications and infrastructure has enabled all employees to work safely from home, and IG will continue to invest in technology in order to provide the best possible service for our clients.

 

The Group will take a cautious approach in returning to its offices around the world, in keeping with the guidance of local governments, with the priority being the safety of its staff.

 

IG is scheduled to announce its full year results for FY20 on 23 July 2020.

 

For further information, please contact:

IG Group Investors                                         IG Group Press                                 FTI Consulting

Liz Scorer                                                           Jon Laycock                                      Ed Berry              

020 7573 0727                                                 07500 771 109                                 07703 330 199

[email protected]                                            [email protected]

Disclaimer - forward-looking statements

This statement, prepared by IG Group Holdings plc (the "Company"), may contain forward-looking statements about the Company and its subsidiaries (the "Group"). Forward-looking statements involve known and unknown risks and uncertainties because they are beyond the Company's control and are based on current beliefs and expectations about future events.  No assurance can be given that such results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. If the assumptions on which the Group bases its forward-looking statements change, actual results may differ from those expressed in such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update these forward-looking statements. Nothing in this statement should be construed as a profit forecast.

About IG

IG empowers informed, decisive, adventurous, people to access opportunities in over 16,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.

IG's vision is to provide the world's best trading experience. Established in 1974 as the world's first financial derivatives firm, it continued leading the way by launching the world's first online and iPhone trading services.

IG is an award-winning, multi-product trading company which allows retail, professional and institutional clients to trade via its platforms 24 hours a day, 7 days a week*. IG is the world's No.1 provider of CFDs** and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees and offers an execution-only stock trading service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has a range of affordable, fully managed investment portfolios, which provide a comprehensive offering to investors and active traders.

IG is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and North America. IG Group Holdings plc holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Ratings.

*Excluding 10pm Friday (GMT) to 4am Saturday (GMT)

**Based on revenue excluding FX (from published financial statements, June 2019)


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 820

Market: LSE
Market Cap: £3.03 billion
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