IG Group Holdings plc Pre Close Trading Update (3492Y)
December 05 2017 - 2:00AM
UK Regulatory
TIDMIGG
RNS Number : 3492Y
IG Group Holdings plc
05 December 2017
5 December 2017
LEI No: 2138003A5Q1M7ANOUD76
IG GROUP HOLDINGS PLC
Pre Close Trading Update
IG Group ("IG", "the Company"), a global leader in online
trading, today issues an update ahead of entering its close period
following the end of the first half of the financial year ending 31
May 2018 ("FY18").
Following a strong first quarter, IG continued to perform well
in the second quarter. Net trading revenue in the first half is
expected to be around 9% higher than in the same period a year
ago.
Operating costs excluding variable remuneration in the first
half of FY18 are expected to be around 7% lower than in the same
period a year ago, primarily reflecting a lower level of
advertising and marketing spend. IG maintains the guidance given in
July that operating costs excluding variable remuneration for the
full year are expected to remain at a similar level to FY17.
As previously noted, the nature and timing of potential
regulatory changes in the UK and some other key markets for the
Group remain uncertain. The Company continues to implement measures
to differentiate itself further within the OTC leveraged
derivatives industry and to protect the business from regulatory
change. It remains difficult, however, to predict what impact
regulatory change may have on the Group this financial year and
beyond.
There is no conference call scheduled for today, but the
Investor Relations team will be available to answer questions.
The financial results for the six months ended 30 November 2017
will be announced on 23 January 2018. There will be a presentation
on this date 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 at laura.ewart@fticonsulting.com or on 020 3727
1160.
For further information, please contact:
IG Group
Liz Scorer 020 7573 0727
investors@iggroup.com
FTI Consulting
Neil Doyle / Ed Berry 020 3727 1141 / 1046
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public
domain.
About IG
IG empowers informed, decisive, adventurous people to access
opportunities in over 15,000 financial markets. With a strong focus
on innovation and technology, the company puts client needs at the
heart of everything it does.
IG's vision is to be a global leader in retail trading and
investments. Established in 1974 as the world's first financial
spread betting firm, it continued leading the way by launching the
world's first online and iPhone trading services.
IG is now an award-winning, multi-platform trading company, the
world's No.1 provider of CFDs* and a global leader in forex. It
provides leveraged services with the option of limited-risk
guarantees, and offers an execution-only share dealing service in
the UK, Australia, Germany, France, Ireland, Austria and the
Netherlands. IG has recently launched a range of affordable, fully
managed investment portfolios, to provide a comprehensive offering
to investors and active traders.
It is a member of the FTSE 250, with offices across Europe,
including a Swiss bank, Africa, Asia-Pacific, the Middle East and
the US, where it offers on-exchange limited risk derivatives via
the Nadex brand.
*Based on revenue excluding FX (from published financial
statements, October 2016)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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