IG Group Sees Strong Results for Q3 FY2020

IG Group Holdings announced its results for the third quarter of its fiscal year ending May 31, 2020. Fortunately for the group, it saw strong results to February 29, 2020.

Client activity increased during this period with a solid performance, especially during the final week of February. 

The firm saw a £139.8 million in revenue, representing a 29% growth against the same period of fiscal 2019. This was the strongest revenue since the European Securities and Markets Authority implemented its product intervention measures in August 2018. 

IG Group served over 101,700 over the counter clients in Q3, recording 21% higher in a yearly comparison. Average OTC leveraged revenue per client managed to rise higher by 9% to reach £1,330, as well.

According to the online trading provider, the high levels of activity last February continued into March. In the first 12 days of its last quarter, it saw revenues of around £52 million.

The sustained level of volatility was unprecedented, said the firm. Despite looking forward to higher engagement, the firm claims it’s not possible to determine how long the volatility will last.

In a trying time, the actions of governments and regulations are unpredictable. The Group may have to face circumstances it hasn’t anticipated, which results in difficulty in predicting its expected 2020 revenue. 

IG Group Welcomes Helen Stevenson

IG Group also announced including Helen Stevenson as a Non-Executive Director of the company on Wednesday. She is also now a member of IG Group’s Remuneration Committee.

Company Chairman Mike McTighe said she is a highly experienced Non-Executive Director with significant marketing and digital skills and experience. Her inclusion builds on the skills of the existing Board members with the experience needed to build on executive remuneration.

She said she is looking forward to enhancing the Board’s potential of the business through her skills.

In addition to her expertise in marketing, she also has a BA (Hons) Degree in Chemical Engineering from Cambridge University.