1 Min Read
LONDON, May 22 (Reuters) - Financial spread betting company IG Group said on Thursday that full year revenue will fall slightly below expectations due in part to subdued trading in the last quarter of its financial year.
The company, which allows investors to speculate on the future price of securities or baskets of securities, said in a trading update that profit, earnings and cash generation remained on track as operating costs had been lower than anticipated.
"Trading has been generally subdued since... the middle of March, with relative weakness most evident in May," it said in a statement, adding that the foreign exchange market had been particularly weak because of low volatility.
Analysts expect IG, which is scheduled to report its full year results in July, to deliver revenue of 378.7 million pounds ($639.17 million) and pretax profit of 192.5 million pounds, according to Thomson Reuters data.
$1 = 0.5925 British Pounds Reporting by Clare Hutchison, editing by William Hardy