IG expects 7% higher revenue for ending FY

IG expects 7% higher revenue for ending FY

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One of the major global forex brokerages IG Group (LON:IGG) issued a trading update ahead of entering its close period for the financial year ending on May 31, saying it expects a higher full year revenue.

To be more precise, the company expects to report around 7% higher revenue than the prior year and full year profit before tax to be modestly ahead.

The operating expenses in the second half of the year are expected to be more or less the same as those of the first half, including a rebate from the Financial Services Compensation Scheme relating to prior years.

The official results for the fourth quarter and the financial year that end on May 31, will be released in mid-July.

IG is a financial services provider with over 40 years’ trading experience. It was the first company to launch spread betting, and it also offers trading in contracts for difference (CFDs), forex, stocks, bonds, binaries, and Bitcoin. It is primarily regulated by UK’s Financial Conduct Authority (FCA), but its subsidiaries have licenses from the authorities in Australia, Japan, South Africa, UAE and Singapore.

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