IG Group says full year revenue rises 2.4 percent
LONDON, July 22
LONDON, July 22 (Reuters) - IG Group, a provider of financial spread betting and contracts for difference, said on Tuesday that its full year revenue rose 2.4 percent, as its strategy to focus on customers who trade more regularly offset low market volatility.
The company, which offers online trading in shares, indexes, foreign exchange, commodities and binary options, said revenue for the year to May 31 was 370.4 million pounds ($632.6 million), compared to 361.9 million pounds a year earlier.
That was below analysts expectations for revenue of 373.8 million pounds, according to Thomson Reuters data.
Profit before tax was 1.3 percent higher at 194.7 million pounds. ($1 = 0.5855 British Pounds) (Reporting by Clare Hutchison, editing by Louise Heavens)