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IG Group Holdings PLC on Thursday said that its performance remains in line with expectations, as it reported improved revenue for the first quarter of financial 2025. For the three months ended August 31, the London-based contracts-for-difference trading platform reported total revenue of £278.9 million, up 15% from £242.9 million a year prior. According to IG Group, this improvement reflected higher revenue per client, supported by ‘elevated volatility’ across a range of asset classes in early August. Total active clients across the group were down 1.4% to 263,200 from 267,000. Within total revenue, net interest income came to £36.8 million from £34.4 million. Of this, £13.7 million related to OTC derivatives, compared to £11.8 million the year before, £18.4 million to exchange traded derivatives, from £18.0 million, and £4.7 million to stock trading and investments, from £4.6 million. Client cash balances in IG Group’s US business came to $1.9 billion at the end of the first quarter, unchanged from May 31. Outside the US, client cash balances came to $2.6 billion, lower than $2.7 billion at May 31. Also on Thursday, IG Group said that a £150 million share buyback programme announced in July is expected to complete by January 31, subject to share price performance. The first tranche of £75 million was completed on Monday, and the second will start shortly. Looking ahead, the firm said it continues to trade in line with market expectations. Half-year results are due in January next year. Shares in IG Group Holdings were trading 0.9% higher at 968.25 pence each in London on Thursday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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