SBC News Voice of the Sports Betting Industry
Spread betting operator IG says its first half performance has recovered after a strong second quarter for the firm. A ‘very subdued first quarter’ had threatened to derail the group’s progress, but it managed to post an 8% increase in net trading revenue to £197.4m and a slight 2.8% rise in profit before tax to £101.4m.
Chief executive Tim Howkins commented: “IG delivered another very strong set of results, with record revenue in the half year after a subdued first quarter. We also made good progress with our ongoing investment in strategic initiatives designed to drive future growth, including the launch of stockbroking in the UK and the opening of a new office in Switzerland.
“In November we celebrated IG’s 40th anniversary. It was a great pleasure to be joined in those celebrations by a number of clients who have been active with us for a large portion of those 40 years. In what has recently become a very challenging time for the industry, IG’s strong financial position and commitment to service should provide both existing and new clients with reassurance that we remain the number one trading partner.
“I believe that the initiatives we are embarked upon provide clear evidence that, after 40 years, our ambition to drive forward and develop the business is as strong as it has ever been.”
