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UK spread better IG says Q1 revenue up 29 percent

Tue Sep 9, 2008 2:21am EDT

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LONDON, Sept 9 (Reuters) - British spread-betting firm IG Group (IGG.L) said its first-quarter revenue rose 29 percent, helped by continued growth in client numbers.

IG said revenues for the three months to Aug 31 were 53 million pounds ($94.54 million), up from 41 million pounds in the same period last year.

The improvement came as IG attracted more customers, with new spread betting and CFD (contracts for difference) accounts for the quarter up 45 percent on the year.

"The board remains confident of the group's prospects for the current financial year and that IG is competitively positioned for further growth," IG said in a statement.

(Reporting by Myles Neligan; Editing by Quentin Bryar)



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