Here is a summary of the key points from the revenue update for IG Group Holdings plc for the first quarter of the financial year 2024-2025
Total revenue for the quarter was £278.9 million, a 15% increase year-on-year, driven by higher revenue per client and elevated market volatility.
Total active clients decreased by 1% year-on-year to 263,200.
Revenue breakdownOTC derivatives increased by 14%, exchange-traded derivatives by 20%, and stock trading and investments by 8%.
Net interest income was £36.8 million, with the majority relating to OTC derivatives.
Tastytrade, the Groups US business, saw an 18% increase in total revenue to $70.8 million.
Client cash balances remained stable at $1.9 billion in the US and £2.6 billion outside the US.
The Group announced a £150 million share buyback program, with the first tranche of £75 million completed and the second tranche to start shortly.
The Group expects full-year performance to be in line with market expectations.
The next scheduled market announcement will be the half-year financial results in January 2025.
The update also includes a disclaimer regarding forward-looking statements and provides an overview of IG Groups business and services.