September 19, 2019 / 6:32 AM / a month ago

IG Group reports flat revenue in first quarter

Sept 19 (Reuters) - Online trading platform IG Group on Thursday reported first-quarter revenue, that was in line with last year, as growth in the number of active clients was offset by tighter trading rules in Europe.

The company, which expects to return to revenue growth in its fiscal year 2020, said restrictions on the sale of Contracts for Differences by the European Union’s securities watchdog affected trading for one month in the quarter.

Revenue came in at 129.1 million pounds ($160.90 million) for the three months ended Aug. 31, compared with 128.9 million pounds a year earlier.

$1 = 0.8024 pounds Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips

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