- IG Group, the fast-growing forex and options broker, had a strong performance in the three months to August 31st
IG Group, the fast-growing forex and options broker, had a strong performance in the three months to August 31st. In a statement, the company said that its revenue continue growing as demand for its services continued rising around the world.
IG Group revenue rose from £218.3 million in Q1’22 to £241 million in Q1 of this year. This revenue was helped by its exchange-traded derivatives whose revenue jumped by 36% to £30.8 million. It was followed by its OTC derivatives business whose revenue rose by 5% to £197 million.
According to the statement, the company’s Core Markets+ saw its revenue soar to £200.3 million. Japan’s revenue rose by 24%. At the same time, its High Potential Markets revenue jumped to £41.5 million. This division included tastytrade, which the company acquired in 2021.
IG Group now has over 279,300 customers from around the world. It added 19,200 users in Q1, which was down by 27% from the same period. The statement added that:
“As part of the new framework, we announced a £150 million share buyback programme, which commenced during the quarter. As at 13th September, approximately 3.7 million shares have been re-purchased, at a cost of £30.2 million.”
IG Group share price has done well in the past few months. It has risen by more than 21% from the lowest level in July, meaning that it has outperformed the FTSE 250 index.