IG continues to profit from market volatility

The strong performance at spread-betting firm IG Group has continued, with both profits and revenues rising by 28% in the first half.

IG, which has benefited from the market volatility over the last year, said that net trading revenue increased from £153.0m to £195.6m in the six months ended November 30th, as 15% more clients signed up to IG's services.

Pre-tax profit rose from £80.6m to £103.2m, while the pre-tax profit margin improved slightly from 52.7% to 52.8%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"IG has again delivered record results with strong growth in both revenue and profits," according to Chief Executive Tim Howkins.

"Our significant investment in technology and strong financial position support our increasing market lead and we remain well positioned to deliver further profitable growth. I remain confident about the outlook for the business."

The firm raised its interim dividend by 9.5% to 5.75p per share.