IG Group issued the following trading update relating to the financial year ended 31 May 2009. While IG is not a major Forex player it is still medium sized and is one of the largest UK brokers.
The Group expects to report revenue of around �257m (2008: �184m) and adjusted profit before tax of around �125m (2008: �97m). Excluding the impact of FX Online Japan
KK (�FXO�), which the Group acquired during the period, organic revenue growth for the year was 25%. For the final quarter organic revenue growth was 18% year on year, compared to 12% in the third quarter. This improvement in rate of growth was achieved despite significant reductions in the level of market volatility.
Michael
Forex Magnates