Pre-close trading update
IG Group issues the following Trading Update for the final quarter of the year ended 31 May 2014 (FY14), ahead of entering its close period on 1 June 2014.
RNS Number: 7544H
IG Group Holdings plc
22 May 2014
Pre-close Trading Update
IG Group, a global leader in online trading, today issues the following Trading Update for the final quarter of the year ended 31 May 2014 (FY14), ahead of entering its close period on 1 June 2014.
Trading has been generally subdued since the Interim Management Statement was published in the middle of March, with the relative weakness most evident in May. Volumes in the FX market have been particularly impacted, as this asset class has experienced historically low levels of volatility over the last few months. With a little over a week of the year remaining, management currently anticipate that revenue for the full year will be slightly below expectations, although profit, earnings and cash generation remain on track, as operating costs continue to run slightly below plan.
The company continues to make good progress on the initiatives it outlined in January and will provide an update on these along with its results for FY14 in July.
Today management will be available on a conference call for institutional investors and analysts at 8.30am (UK time). The call can be accessed by dialling +44 (0)20 3059 8125. A replay of the conference call will be available for a period of seven days after the event by dialling +44 (0)121 260 4861 and using the confirmation code 6191816#. It will shortly be archived for access on the Results and Reports page.
The results for the year ended 31 May 2014 will be announced on Tuesday 22 July 2014. There will be a presentation for institutional investors and analysts at 9.30am (UK time) at the Group's offices at Cannon Bridge House, Dowgate Hill, London EC4R 2YA; those wishing to attend the presentation should contact Laura Ewart by email or on 020 7269 7243.
For further information please contact:
Kieran McKinney Head of Investor Relations 020 7573 0026
Neil Doyle / Ed Berry 020 7269 7237 / 7297
IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets – including shares, indices, forex, commodities and binaries.
Established in 1974 as the world’s first financial spread betting firm, IG’s aim is to become the default choice for active traders globally. It is already an award-winning multi-platform trading company, the world’s No.1 provider of CFDs* and a global leader in forex, and will be launching its new execution-only stockbroking service in late 2014.
It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the US, where it offers limited risk derivatives contracts via the Nadex brand.
*Based on revenue excluding FX, published financial statements, August 2013.