IG Group Holdings PLC (LON:IGG) said high levels of client trading activity have continued in March and April, with revenues and costs rising as numbers of active clients increase.
Revenue for the spread-betting, CFD and stockbroking group has been estimated at around £173mln in the first five weeks of the final quarter of the FTSE 250 group’s financial year.
This compares to just under £140mln in the third quarter and £249.9mln in the first half.
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“The recent sustained level of financial market volatility and revenue is unprecedented, and it is not possible to determine how long it will persist or how clients will continue to respond,” IG said in an update on Friday.
The board said it expects to maintain the 43.2p per share annual dividend “until the group's earnings allow the company to resume progressive dividends”.
Operating expenses are expected to increase by around £40mln to £300mln in the year, up from £290mln last indicated, due to the growth in clients and activity, while bonuses this year are expected at around £42mln, compared to £25mln last year.
Topping up its ESG credentials, the company has committed £5mln million from the year’s profit before tax to its global educational fund.
IG shares rose 2% to 748p in early trading on Friday, up 6% in the year to date.