By Elena Vardon
IG Group Holdings said it expects its results for fiscal 2025 to meet market expectations after its third-quarter revenue was lifted by strong market conditions, which pushed clients to trade.
The online-trading company on Thursday said its revenue for the three months to Feb. 28 came in at 268.0 million pounds ($347.4 million), a 12% increase compared with the same quarter a year prior, as higher revenue from trading cushioned a decline in net interest income due to lower rates and stable client balances.
The London-listed group saw a 14% increase in its over-the-counter derivatives, an 18% rise in its exchange-traded derivatives and a 32% jump in stock trading and investments.
The number of active clients was 2% higher than the prior year and up 5% from the prior quarter at 272,700, it said, adding that first trades increased across all products.
The group is confident that its revenue and adjusted pretax profit for the fiscal year ending May 31 will align with current market views as it sees strong market conditions continuing into the final quarter. Estimates taken from a company-compiled consensus have revenue for the year at 1.03 billion pounds and pretax profit at 494 million pounds.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
March 13, 2025 03:43 ET (07:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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