IG Group revenue growth slows
Spread betting operator benefits from strong performance in rest of world markets despite UK decline.
IG Group has seen Q3 revenues rise by 1.5% year-on-year, the spread betting operator has revealed in its interim management statement for the three months ended 29 February.
This follows 25% year-on-year revenue growth for the first half of the financial year, with its UK operations seeing revenues decline by 1.4% for the period, coming in at £39.4m.
The UK still makes up more than half of the company’s revenues, but the strongest Q3 revenue growth came from the “Rest of World” region – comprising Singapore, South Africa and the United States, where year-on-year growth of 16.9% took revenues up to £5.7m. Singapore made up 79% of this growth.
IG Group’s third-quarter IMS does not include Extrabet in its comparatives, after the sports betting business was written off by the company in June last year.
The company said in a statement: “The group continues to see progressive growth in active client numbers, which is the driver of long-term revenue growth.”