IG Group looks forward to the future
25th November, 2008
London-based spread betting firm IG Group Holdings has issued a trading update for the last six months, showing that it expects to post sales of approximately $187.7 million. This is up 45% from the $129.2 million it reported for the first six months of the year. This is being put down to current ‘market volatility’, which has also seen it post record levels of account openings and customer activity.
IG Group revealed that conditions have been strong over the period, particularly in the second quarter, meaning they were able to achieve high levels of growth, it announced that both its, UK spread betting and CFD operations have helped contribute to this growth.
Chief Executive Officer for IG Group Tim Howkins said “ Global markets have seen exceptional events in this period and market volatility, particularly during October, was extraordinary, as a result of our experience in October, we have made prudent provisions and made changes to our systems to reduce the risk of potential bad debts in the future.”
Also according to Mr Howkins IG Group has performed well, account opening and client activity have continued to be rise, ultimately leaving IG Group confident in the future of the business.
By Rommon
