IG Group Holdings plc
07 September 2007
7 September 2007
IG GROUP HOLDINGS PLC
Interim Management Statement
IG Group Holdings plc ('IG' or 'the Group') issues the Group's first Interim
Management Statement in accordance with the new EU Transparency Directive and
revised UK Listing Rules. Unless otherwise stated, trends and figures
highlighted below refer to the three months ended 31 August 2007 and the
corresponding period last year.
Group revenue for the quarter was in excess of £40m, compared to approximately
£25m in the corresponding quarter the prior year, an increase of over 60%.
The Group's financial business benefited from high levels of equity market
volatility, particularly in July and August. Volatility is an important
short-term driver of client activity and as a result the Group has achieved
strong growth across its financial business with revenue approximately 70%
higher than in the equivalent period of the prior year.
While this performance is encouraging, it has benefited from the prolonged
market volatility during the period. It remains impossible to predict future
trends in volatility or customer reaction to any changing market conditions.
As previously reported, during July the Group released its new financial dealing
platform, PureDeal, and also extended its TradeSense client education programme
to cover its Australian CFD business. Both of these initiatives have been very
well received by clients. The Group is well advanced in its plans to roll these
initiatives out across the remainder of its financial business.
The strong momentum seen at the end of the last financial year in relation to
the number of financial accounts opened, which the Group considers a key lead
indicator, has continued into this financial year.
The Group's sports business continues to make good progress, achieving revenue
growth of approximately 15%, against a challenging comparative period which
included the benefit of the football world cup.
As previously reported, the Group expects to open new offices in France and
Spain in the second quarter of the financial year.
The Group has had a stronger start to the financial year than it had expected,
largely as a result of market conditions. The board remains confident in the
prospects for the full year.
For further information please contact:
IG Group 020 7896 0011
Tim Howkins, Chief Executive
Steve Clutton, Finance Director
Financial Dynamics 020 7269 7200
Robert Bailhache
Nick Henderson
This information is provided by RNS
The company news service from the London Stock Exchange
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