Not only a surge in trading revenue powered by volatile markets, but IG also reported an increase in active clients for the financial year ended May 31, 2022.
Trading service brokerage IG Group reported results for the financial year ended May 31, 2022. The company recorded significant growth in various segments. For FY22, IG Group saw a 16% jump in net trading revenue to reach £972.3 million, up from £837.3 million in FY21.
Not only revenue, but the total active clients also increased from 291,200 in FY21 to 381,500 this year. The financial services provider also posted a base EPS of 92.9 pence in FY22.
"This year's record results show how we have achieved consistent strong financial performance while we continue our journey to become a more diversified innovative global fintech. Our forward-looking strategy has positioned us well to capitalize on a significantly larger total addressable market and to take advantage of the ongoing shifts towards self-directed investing," June Felix, the CEO of IG Group, commented. "We are now operating on an entirely new scale. Our outstanding performance this year is due to several factors: our clients, our people, and our strategy. The quality and loyalty of our clients have generated sustainable revenue, providing a positive impact on our financial strength. This strength enables us to invest organically in key areas, expand regionally, create new products and innovate strategically."
IG also shared that the company saw pre-tax profit growth hit 7% to £477 million. The adjusted profit before tax was £494.3 million, up nearly 4% over the previous year.
The CEO of IG Group continued that this year's company results prove that IG has really made an effort to support critical stakeholders today and tomorrow. The strides they have made in recent years have laid a solid foundation, and he hopes to build on it in the coming year.