Strong volumes leave IG confident

Spread betting firm IG Group said it has continued to experience strong volumes with all areas of the business delivering growth, leaving it confident of its prospects for the current year.

In a trading up ahead of January’s interim figures it said its largest division, the UK financial operation, has achieved strong growth driven mainly by high levels of client recruitment.

The Australian business continues to demonstrate rapid growth, it added, while the new Singapore operation is expected to start trading in January next year.

“This office is unlikely to contribute materially to the profits of the current year, but is an important step in establishing a presence in Asia and broadening IG’s international reach,” it said.

IG also continues to develop its unregulated product range including a simplified form of binary betting specifically designed for the sports market, planned to launch in the final quarter of the financial year.

IG’s interim results for the six months to 30 November will be announced on 23 January.

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