London's IG Group announces 'strategic' revenue results

London-headquartered IG Group Holdings has revealed its successful results for the 12 months ending May 31, 2019.

In the three quarters of the financial year, during which the ESMA measures were in place, 66 per cent of ESMA-region revenue was generated from IG Group’s ‘professional’ clients.

The group has brought in several, with 31,510 clients making their first trade with IG Group in FY19. This contributed to £66.8m of revenue in the year.

IG Group estimates that the lifetime revenue value for this cohort of clients will be around £300m.

The company’s net trading revenue totalled £476.9m - down 16 per cent reflecting the impact of the ESMA measures.

June Felix, IG Group’s chief executive, concluded: “The company has made good strategic and operational progress during FY19, taking action to ensure that the business successfully navigated the impact of regulatory change.

“We have developed our strategy to position the business so that it will continue to deliver for our clients, our shareholders and our other stakeholders under a more restrictive regulatory environment in the UK and EU.

“I am excited by the opportunities we have identified, and I am confident that the Company will return to revenue growth in FY20.

“I am looking forward to leading the implementation of IG’s strategy to deliver sustainable revenue growth and attractive shareholder returns.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →