I picked up a few of these today as I thought the results were impressive and the sp has further to rise. If the markets turn stormy the company will produce even better figures. anybody else bought in?

LONDON (ShareCast) - Shares in spread betting firm IG Group fell sharply despite a 50% hike in the interim dividend and strong growth in pre-tax profits and turnover, as US bank Citigroup issued a bearish update on the group.

IG group said market volatility helped it deliver growth across all areas of the business in the first half of the year, with pre-tax profits up 63% to 48.2m on turnover that rose 54% to 85.8m.

IG said it remains difficult to predict future trends in volatility or customer reaction to change in market conditions but it is well positioned for further growth.

However, Citigroup said its forecast of 88m full year pre-tax profit assumes a significant deceleration in growth to 2% in the second half. Other analysts expressed worries about increasing costs.

Coming up to divi date, hence the sp support.

Anyone using IG Index for SBs, be careful they have doubled their spreads this afternoon.

That should boost their profit margins nicely then! :o)

IG Group said quarterly revenue surges - MoneyAM

Spread betting company IG Group Holdings said group revenue for the three months to end-February rose 55% to 46m from 29.7m a year earlier.

The company said that it remains confident in its prospects for the current year and is 'well-positioned' for further growth.

The group's new offices in France and Spain, which have been trading for about four months, have already generated sufficient revenue to cover their direct monthly costs, it said in a trading statement.

It added costs remain in line with management expectations, and it continues to benefit from the equity market volatility, which is an important short-term driver of client activity in its financial business

SP down 22.5p @306p looks like EK and his merry band are active with this one.

Goes ex-divi 28th jan '09. 4p per share.
BROKER NEWS 23.10.09-IG Group initiated with buy at Teathers, target price 370p

MoneyAM
"Revenue for financial derivatives trading and sports betting firm IG Group Holdings rose 35% to 62m in the three months to the end of February.

But it says measures taken to reduce credit risk have inevitably resulted in the loss of some revenue and while it had seen significant growth in its newer businesses, the overall growth had been affected by a very strong comparative period.

Operating costs are in line with management expectations and the group continues to achieve high levels of account opening in its financial businesses.

The group's financial businesses opened 18,700 accounts, including 4,400 from FXOnline, compared to 10,500, excluding FXOnline, in the corresponding quarter in the previous financial year.

The group's six newer offices in Singapore, France, Germany, Spain, Italy and the US continue to deliver very strong growth. "

SP currently 172p, down 33% today, which just goes to show what the market thinks of the above report.

I like this paragraph as highlighted by Kyoto -

The Group's clients have become increasingly accustomed to the higher levels of volatility that have been a feature of equity markets since the summer of 2007. As a consequence the uplift of revenue that the Group typically experiences on a higher volatility day is becoming progressively less marked and this made growth against very strong comparatives challenging in the Group's two most established businesses in the UK and Australia. The Group's UK financial business achieved revenue of approximately 31.5m, compared to 34.0m in the corresponding period in the previous financial year. The Group's Australian business achieved revenue of 6.4m, compared to 6.9m in the corresponding quarter of the previous year.

IGG goes ex-divi wednesday 9th sept '09 (11p)

SP. up nearly 4% so far on no news, prepare for Director/Institutions buy announcement soon IMHO.

IGG up on broker Canaccord buy recommendation with target price of 375p.

Thanks for that H, any idea when that was announced please?

11.30am today.

Thank you.

Well I sure wish I'd kept my shares in this one it's doing really well. I got your message Stan thanks---but I'm not clever enough to post charts etc--only just up to basics on a computer!! feel free to start a new thread though as I know how useful a chart is. Good luck.