Increase in IG Group net trading income in Q3
By Anthony O. Goriainoff
IG Group Holdings PLC said Wednesday that net trading revenue for the third quarter of fiscal 2022 increased 13% and revenue growth for the year for its tasty commerce division may remain lower than expected.
For the period to February 28, net trading revenue reached £257.2 million ($335.4 million), compared to £226.7 million the previous year, the trading firm said in line listed in London.
The company said this reflected a record number of active customers.
As for the tasty trade, the slowdown in U.S. options trading volume growth in the third quarter continued into the start of the fourth quarter, and so it will fall short of previous growth forecasts. revenues in the range of 25 to 30 percent, he said.
IG said it expects revenue for the year ending May 31 to exceed current market expectations.
The company did not provide figures for the year. However, the revenue consensus for FY 2022 is £921.7m, taken from FactSet and based on forecasts from four analysts. The company reported revenue of £853.4m for the 2021 financial year.
“Overall, the group remains well positioned for the future and our medium-term revenue guidance remains unchanged,” he said.
Write to Anthony O. Goriainoff at [email protected]