IG Group Holdings, the online-trading company, has announced a slight increase in revenue for the first quarter of fiscal 2024. Although the company experienced softer performance in over-the-counter derivatives, growth in exchange traded derivatives and stock trading helped to offset this decline. IG Group Holdings remains confident in achieving its mid-term targets.
During the three months ended August 31, the London-listed group achieved a revenue of £242.9 million ($303.4 million), compared to £241.8 million during the same period in the previous year.
While revenue within its core markets saw a 6% year-on-year decrease due to challenging market conditions, client money balances remained stable at £4.1 billion. However, revenue within its high potential markets showed a noteworthy increase of 30%.
IG Group Holdings attributed the lower net trading revenue in the quarter to reduced volatility across asset classes. Nevertheless, strong interest income growth more than compensated for this decrease.
Overall, IG Group Holdings is confident in its performance and remains positive about reaching its mid-term goals.
