Fintech IG Group Holdings Plc (LSE:IGG) said revenue increased 11% in its first quarter, positioning it well “for the year ahead and supporting our medium-term growth targets”.
Revenues jumped to £241.8mln in the three months to 31 August 2022 from £218.3mln in the corresponding three-month period last year, with the bulk of this coming from its OTC derivatives business, which reported sales of £197.8mln.
Exchange-traded derivatives experienced the largest growth, up 36% compared to the same period a year earlier to £30.8mln.
IG Group said its core markets+ total revenue increased by 5% to £200.3mln, while its high potential markets reported revenue of £41.5mln.
The group now has 279,300 total active clients across all markets and products, although the 19,200 new clients it brought onboard in the first quarter was down on the 26,200 for the first quarter of 2022.
Additionally, IG said £30.2mln worth of shares were repurchased in the quarter as part of its previously announced £150mln share buyback programme, which it expects to be substantially completed in 2023.