Regulatory clamp-down set to dent revenues at trading platform IG

A couple of other big names, including SEGRO, PZ Cussons and Paragon, are also set to release results on Tuesday

trading algorithms
The City diary is backend-loaded this week, with Thursday looking particularly busy

With most of this week’s scheduled corporate news due to come out on Wednesday and Thursday, Tuesday looks like it will be a fairly quiet affair in the City.

FTSE 100 industrial property investor Segro PLC (LON:SGRO) and student accommodation owner Unite PLC (LON:UTG) are both set to push out half-year numbers, while full-year results are expected from soap maker PZ Cussons PLC (LON:PZC).

IG Group Holdings PLC (LON:IGG) is also dup up with its annual results, which will likely show a hit to revenues from a sector-wide tightening up on the regulatory environment for spreadbettors.

The company expects annual turnover to fall to £475mln from £569mln last year and operating profit to drop to £190mln from £281mln.

The group has said it will maintain the 43.2p per share annual dividend until its earnings allow it to resume progressive dividends.

In a strategy review in May, the IG said it expects to see growth resume after this year and will up spending by £30mln a year to take advantage of opportunities in new products and territories.

These new opportunities are forecast to generate an additional £100mln of revenue by 2022, with the core business to grow by 3-5% a year.

Tuesday July 23:

Trading updates: Paragon Group PLC (LON:PAG)

Finals: IG Group PLC (LON:IGG). Joules Group PLC (LON:JOUL), PZ Cussons PLC (LON:PZC), Carclo PLC (LON:CAR), Cohort PLC (LON:CHRT)

Interims: Segro PLC (LON:SGRO), Unite PLC (LON:UTG), Getbusy PLC (LON:GETB), Synectics PLC (LON:SNX)

AGMs: Stobart Group PLC (LON:STOB)   

Economic data: CBI distributive trades survey; US existing home sales

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