IG Group Q1 revenues grow

IG Group said total revenues were up 15% year-on-year at £278.9m, reflecting higher revenue per client supported by elevated volatility across a range of asset classes in early August. Total active clients, however, slipped 1% to 263,000.

Within total revenue, net interest income was £36.8m, up from £34.4m a year earlier, which £13.7m related to OTC derivatives, £18.4m to exchange-traded derivatives and £4.7m to stock trading and investments.

Looking forward, IG Group continues to expect its FY25 performance to be in line with market expectations.

IG Group also noted that the first £75.0m tranche of its £150.0m share buyback programme was completed on 9 September, with the second tranche set to begin shortly.

As of 0855 BST, IG shares were up 1.04% at 970.0p.

Reporting by Iain Gilbert at Sharecast.com