IG Group issued the following trading update relating to the financial year ended 31 May 2009. While IG is not a major Forex player it is still medium sized and is one of the largest UK brokers.
The Group expects to report revenue of around £257m (2008: £184m) and adjusted profit before tax of around £125m (2008: £97m). Excluding the impact of FX Online Japan
KK (“FXO”), which the Group acquired during the period, organic revenue growth for the year was 25%. For the final quarter organic revenue growth was 18% year on year, compared to 12% in the third quarter. This improvement in rate of growth was achieved despite significant reductions in the level of market volatility.
Michael
Forex Magnates
The Group expects to report revenue of around £257m (2008: £184m) and adjusted profit before tax of around £125m (2008: £97m). Excluding the impact of FX Online Japan
KK (“FXO”), which the Group acquired during the period, organic revenue growth for the year was 25%. For the final quarter organic revenue growth was 18% year on year, compared to 12% in the third quarter. This improvement in rate of growth was achieved despite significant reductions in the level of market volatility.
Michael
Forex Magnates
