IG Group Posts 71% YoY Q2 Revenue Jump

IG Group Holdings plc has published numbers of its trading activities for the last three months, ending on November 30, showing a consistent demand for its services in the fiscal year.

In the second quarter of FY2021, the brokerage generated total revenue of around £207 million. This reported number is marginally lower than the previous quarter’s £209 million but is significantly stronger than the figures posted a year ago. IG’s revenue for Q2 of FY2020 came in at only £120.8 million, meaning it saw a yearly jump of 71.4 percent recently.

Clients Getting Active

The London-headquartered brokerage highlighted elevated trading volumes across its client base. Indeed, this trend is reflected in the number of newly joined traders on the brokerage.

IG witnessed 207,000 total active clients last quarter, compared to 133,800 active clients in the previous year’s similar quarter.

The brokerage is reporting an impressive performance for a few consecutive quarters now. Though the demand in Q2 was marginally lower than the previous quarter, it is still impressive considering the dull activity across the trading industry in October.

It is to be noted that the year-on-year performance of Q2 is still better than Q1 when the revenue increased by 62 percent. In the final FY2020 quarter, IG doubled its revenue.

Now, the broker is expecting the net trading volume for the first half of FY2021 to be around £416 million, up from the previous year’s £249.9 million.

“Our focus remains on providing a first-class experience to sophisticated clients looking to trade across a range of global financial markets,” IG Group CEO, June Felix said earlier. “We continue to invest in our people, platform and technology to deliver the functionality and capabilities demanded by our loyal, high-quality client base while maintaining our differentiated business model.”

(Photo: IG Group)

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