The group acquired 53,600 new clients in the first half, which was lower than the year-ago period of 60,800
IG Group Holdings Plc (LSE:IGG) announced record performances across its business for the first half, with net trading revenue growing 16% to £471.9mln and pre-tax profit rising 8% to £245.2mln.
The trading platform said the strong performance built on the momentum from the past year and demonstrated “the benefits of our increasingly global and diversified business model”.
Active clients increased by 42% to 320,400, reflecting the acquisition of tastytrade in June 2021.
The group acquired 53,600 new clients in the first half, which was lower than the year-ago period of 60,800. IG Group said the slower growth in new clients was expected as market conditions are less volatile than they were last year in the midst of the COVID-19 pandemic. It noted that the number of new clients was significantly higher than the 26,400 acquired in the pre-pandemic period two years ago.
The company said tastytrade showed strong growth, delivering revenue of £52.8mln in the five months since acquisition, increasing 34% on a constant currency basis on the comparable period in the prior year.
The integration of tastytrade is well on-track, IG Group added.
The company declared an unchanged interim cash dividend of 12.96 pence per share.
This has been a period of outstanding performance with record revenues and profits,” said chief executive June Felix.
“Since we launched our new strategy three years ago, the group has transformed from a UK-centric, CFD focused firm, to a global financial technology company with a multi-product trading platform.
“The tastytrade acquisition in June 2021 brought about a step-change in our reach and product offering. Through our complementary capabilities, and buttressed by tastytrade’s award winning technology platform and compelling, distinctive educational content, IG is well positioned to take advantage of the global structural shifts toward self-directed trading and deliver continued sustainable growth.”
Shares jumped almost 7% to 879.00p in late morning trade.
Read More: IG Group Holdings Plc revenue leaps 16% but client growth slows