Shares in IG Group Holdings Plc (LSE:IGG) climbed 6.25% to 1,445p as it launched a new share buyback and a strategic review alongside its results for 2025 where revenue and underlying profits came in higher than expected.
The online trading and investments platform generated total revenue of £1.1 billion in the calendar year, up 7%, while net trading revenue climbed 10% to £1 billion, beating the £987 million that analysts forecast.
Underlying profit (EBITDA) edged up 1% to £531 million, ahead of the £528 million consensus estimate. Margins slipped to 47.3% from 49.9% as interest rates fell and the group stepped up spending on marketing and technology.
Customer growth was partly driven by IG's acquisition of Freetrade, the stock-trading app, which helped push active customers up 174% to 742,100. Stripping out Freetrade's contribution, the organic increase was 6%.
The group also completed the purchase of Independent Reserve, an Australian cryptocurrency exchange, in January 2026, with plans to extend its crypto offering to Singapore and the UAE later this year.
Chief executive Breon Corcoran said: "Record financial results and accelerating customer growth demonstrate the strength of IG's platform."
He said the strategic review, results of which are expected in the autumn, "to ensure IG captures the full long-term opportunity ahead - evaluating routes to maximise shareholder value".
It will examine whether to change where the group is domiciled or listed, potential acquisitions and possible mergers of parts of the business with other firms.
As well as the review, IG also announced another £125 million buyback.
Looking ahead, IG expects total revenue for the first quarter of 2026 to reach approximately £300 million, up around 7% year on year, with recent market volatility around the Middle East war providing a tailwind.
Broker Panmure Liberum noted that the company has changed its year-end from 31 May to 31 December and introduced new divisional reporting, with "no surprises on the financials" and no change to the outlook, "despite what has been an obviously supportive volatility environment".
Analysts said the main headline is the strategic review, seen as the board "clearly looking to enhance shareholder value".
** UPDATE: Adds share price, details and broker comment **