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Interim Results

Posted:
20/1/2015

RNS Number: 5745C 
IG Group Holdings plc 
20 January 2015

Preliminary Results for the six months ended 30 November 2014

IG Group Holdings plc (“IG” or “the Group”) today announces results for the six months ended 30 November 2014.

Operating and financial summary

  • Strong first half results following a very subdued first quarter
  • Net trading revenue(1) up 8% at £197.4 million
  • Profit before tax up((2) 2.8% to £101.4 million
  • Diluted EPS up 5.4% at 21.44p
  • £87.4 million of own funds generated from operations, up 10.5%
  • Interim dividend of 8.45p per share, 30% of 2014 full year dividend
  • Execution only stockbroking service launched in the UK; planning international roll-out
  • Swiss office commenced operating in October; Dubai licence application progressing well
  • Launched IG Major Markets mobile App, aimed at improving client acquisition

Tim Howkins, chief executive, 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 old 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.”

(1) Net trading revenue is trading revenue excluding interest on segregated client funds and is presented net of introducing partner commissions. All references to 'revenue' in this statement are made with regards to net trading revenue. 
(2) A change in accounting treatment means there is no FSCS levy charge in the first half of the 2015 year, with the full annual charge now being incurred in the second half.  The prior year period has been restated.
  
All current financial results listed are for the six months ended 30 November 2014.  All general references to ‘the prior period’, ‘the prior year’, and ‘last year’ mean the six months ended 30 November 2013, unless otherwise specified.

Full details for these interim results can be accessed here: