New Acquisition helps to up Revenue for IG Group
10th March, 2009
The financial spread betting and sports betting group IG has announced promising quarterly results today. According to the British-based company, they are confident that after a good start to 2009, they will continue performing well through the year.
According to IG Group some of this can be contributed to the acquisition of Japanese online foreign exchange company, FX Online, in November 2008
Since acquiring FX Online, IG Group revenue has increased by 35% for the last quarter ending 28 February 2009.
The same quarter saw IG Group open nearly 19,000 accounts with nearly 4,500 coming from FX Online, proving its contribution to the ££16million rise in revenue for the quarter.
IG Group also said that its six newest offices in Germany, Spain, Singapore, France, Italy and the US had continued to grow and increase revenue from £2.8million to £11.3million for the quarter from the same period last year.
IG Group concluded that although it was hard to predict future trends in volatility or customer reaction to changing market conditions, it was confident it was in a “competitively positioned for further growth.”
By Rommon
