September 21, 2017 / 7:28 AM / a year ago

UPDATE 1-IG Group's Q1 revenue jumps on expanded client base

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Sept 21 (Reuters) - IG Group Holdings Plc, a British online trading company, on Thursday reported a 21.4 percent rise in revenue to 135.2 million pounds ($182.47 million) for the quarter ended Aug. 31 helped by an expanded client base.

Founded in 1974 as the world’s first spread-betting firm, IG said active clients rose 9 percent and revenue per client rose 11 percent. Its client base grew by 15 percent in the United States and by 5 percent across EMEA.

Revenue in the UK, its largest market, rose by 11 percent to 58.8 million pounds on higher revenue per client but client numbers fell.

IG a year earlier had seen strong new client inflows due to short-term trading opportunities created by Britain’s June 2016 EU referendum.

Markets overall saw increased volatility last year after unexpected outcomes including Donald Trump’s victory in the U.S. election and Britain’s decision to leave the EU.

$1 = 0.7410 pounds Reporting by Noor Zainab Hussain and Radhika Rukmangadhan in Bengaluru; editing by Jason Neely

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