IG Group, a financial broker listed in London, released its results for the financial year ended 31 May 2021 (FY21) today. The company reported strong growth in revenue, profit and the total number of active clients.
According to the results, IG Group’s net trading revenue reached £853.4 million in FY21, which is 31% higher compared to FY20. The total number of active clients touched 313,300 in FY21. In FY20, the company reported 239,600 active clients.
IG Group saw a substantial jump in profit before taxation as the number reached £450.3 million, which is 52% higher compared to FY20. Additionally, the broker maintained strong capital during the latest financial year.
Commenting on the recent announcement, June Felix, Chief Executive Officer at IG Group, said: “I am thrilled to announce a record-breaking performance for the Group and the substantial achievement of the revenue target for our Significant Opportunities portfolio one year ahead of plan. This record set of results has been delivered during a global pandemic and is a testament to the hard work and dedication of our people, the long-standing investments in making our technology resilient, and the strength of our client offering.”
In Q3 FY21, IG Group posted strong growth in revenue and the total number of active clients.
Acquisition of Tastytrade
In June 2021, IG Group completed the acquisition of Tastytrade. The broker is planning to expand its presence in the US market through the latest acquisition. IG Group highlighted that the trading and new client acquisition at Tastytrade remained strong in the calendar year to date prior to the deal completion.
“Following a sustained period of strong acquisition, elevated demand and new client retention, IG now services a substantially larger client base, which provides a quality asset going into FY22. Today, we believe that we are in a better position than ever before. We have announced revised and upgraded growth guidance that reflects our outperformance in FY21, our strategic acquisition of Tastytrade, and the quality of our client proposition, putting us in a position of strength to continue to deliver sustainable value for our shareholders," Felix added.
