IG Group says Q3 revenue rises 9 percent
LONDON, March 18
LONDON, March 18 (Reuters) - IG Group, a provider of financial spread betting and contracts for difference, posted a 9-percent rise in third-quarter revenue on Tuesday citing improved conditions in financial markets.
IG, which allows investors to speculate on the future price of securities or baskets of securities, said revenue in the three months to Feb. 28 was 96.7 million pounds ($160.95 million), up from 88.6 million a year earlier.
Investors responded to greater clarity regarding the tapering of the U.S. Federal Reserve's quantitative easing programme and weaker-than-anticipated Chinese economic data.
The company said it is on track to deliver revenue ahead of the prior year, assuming conditions continue to be supportive in the fourth quarter. It reported full year revenue of 361.9 million pounds in 2013.