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IG Group enjoys bumper quarter as coronavirus lifts market volatility

Net trading revenue was roughly £259mln in the three months to 31 May

IG Group -

IG Group Holdings PLC (LON:IGG) generated as much revenue in the fourth quarter as the whole of the first half of its financial year as the coronavirus pandemic boosted market volatility.   

Elevated financial volatility led to high levels of client trading in CFDs, spread-bets and stockbroking, feeding through to anticipated net trading revenue of roughly £259mln in the three months to 31 May, up 63% on the same period a year ago.

Expected resulting full-year revenue of £649mln would be 36% higher year-on-year, the company said in a pre-close trading update on Thursday, ahead of full-year results on 23 July.

The FTSE 250 group said all employees have been able to work safely from home.

It added that it will continue to invest in technology to provide the best possible service for clients.

Quick facts: IG Group

Price: 830 GBX

LSE:IGG
Market: LSE
Market Cap: £3.07 billion
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