IG Group, a leading global financial services provider, released a revenue update today for the three months ended 31 August 2021 (Q1 FY22). The Group saw a decent jump in revenues during the latest quarter.
According to the official numbers, IG’s adjusted net trading revenue touched £221.7 million in Q1 of FY22, which is 6% higher compared to the same period in FY21. The total number of active clients in the latest quarter reached 287,200.
Excluding tastytrade, active clients spiked 12% in Q1 of FY22 compared to Q1 of FY21. IG Group has seen consistent growth in the total number of active clients in the last 12 months.
Despite the overall jump in revenues, IG Group’s Core Markets+ revenue declined by nearly 4% in the latest quarter. The number reached £192.1 million in Q1 of FY22 compared to £199.9 million in Q1 of FY21.
“Revenue for the quarter was £227.5 million. Excluding the foreign Exchange hedging gain associated with the financing of the tastytrade Acquisition which was completed on 28 June 2021, adjusted net trading revenue was £221.7 million, higher than both the same period in the prior year (Q1 FY21: £209.0 million) as well as the recent Q4 FY21 period (£214.1 million), and consistent with the Group's previous guidance,” IG Group mentioned.
Tastytrade
Earlier this year, IG Group completed the acquisition of tastytrade. In the latest announcement, IG Group highlighted a significant positive impact of the latest acquisition of tastytrade on the Group’s revenues.
“Tastytrade delivered another consecutive record quarter of revenue. In the approximately two-month period since completion, it has delivered revenue of £20.8 million. Excluding tastytrade, adjusted net trading revenue for the quarter was £200.9 million, 4% lower than Q1 FY21, reflecting anticipated moderation in trading activity. The strong business performance in the quarter reflects the size and quality of the Group's active client base. The Group remains confident of achieving its medium-term targets for the Core Markets+ and High Potential Markets portfolios,” IG Group added.
Last week, IG Prime, the institutional prime brokerage unit of the financial services giant, IG Group, announced a partnership with Centroid Solutions.
