IG profits up on strong revenues

Investment firm IG Group Holdings reported a higher full-year pretax profit on increased revenues.

Investment firm IG Group Holdings reported a higher full-year pretax profit on increased revenues.

The spread betting company posted a pretax profit of £68.9 million for the year ended May 31st, compared with £51.1 million last year, on a 36 per cent rise in revenues to £122 million.

The company's earnings before interest, taxes, depreciation and amortisation for the year rose to £70.4 million from £52.63 million previously.

IG Group declared a final dividend of 6.5 pence per share, taking the total dividend for the year to 8.5 pence per share.

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The company said it has achieved a new record level of monthly revenues in June on a slight increase in equity market volatility.