LONDON May 22 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
"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)