IG reports 10% revenue gains in the six months ending in November 2022 to £519 million, while the active clients number slightly fell due to less volatile market conditions.
British online trading leader IG announced the performance of its trading activity. The company achieved total revenue of £519 million in the six months ending November 2022. This was a 10% increase compared to £465 million in the previous year.
Unfortunately, the FTSE 250 listed company achieved a pre-tax profit of £240.5 million, down 2% compared to £245/2 million in the first half of FY2021. However, pre-tax adjusted group profit increased by 1% to £260.7 million.
On the other hand, total active clients fell slightly in the first half due to less volatile market conditions, to 312,000, compared to 320,400 clients last year.
IG Group's H1 revenue from core markets, countries regulated by the European Securities and Markets Authority, Australia, Singapore, Switzerland, Dubai, and South Africa, totaled £424.3 million. This figure is slightly up from £ 400.3 million in the same period last year.
June Felix, the Chief Executive Officer at IG Group, comments: "Non-OTC products now make a meaningful contribution of nearly 20% to our total revenue, and by the end of the half we had returned nearly £250 million to shareholders. We have also announced an extension to our share buyback today. Despite a softening in trading demand due to the global economic environment, our high-quality clients have continued to find opportunities to trade, demonstrating the resilience of the business model."