IG Group Reports 15% YoY Increase in Revenue for Q1 FY25

Global online trading leader IG Group has issued its scheduled revenue update for the three months to 31 August 2024 (Q1 FY25).

The company’s total revenue was £278.9 million for the period, an increase of 15% year-on-year (YoY), reflecting higher revenue per client supported by elevated volatility across a range of asset classes in early August. 

Total active clients across the Group in the quarter were down 1% year-on-year to 263,200 from Q1 FY24’s 267,000. 

Within total revenue, net interest income was £36.8 million (Q1 FY24: £34.4 million) of which £13.7 million was related to OTC derivatives (Q1 FY24: £11.8 million), £18.4 million to exchange-traded derivatives (Q1 FY24: £18.0 million) and £4.7 million to stock trading and investments (Q1 FY24: £4.6 million).

In IG’s US business, client cash balances at the end of the period were $1.9 billion. Outside the US, client cash balances were £2.6 billion.

In July, the Board announced a £150 million share buyback programme which is expected to be completed by 31 January 2025, subject to share price performance and other demands on capital. The first tranche of £75 million was completed on 9 September and the second tranche will start shortly.

The Group said it continues to expect FY25 performance to align with market expectations.