EBITDA up by a third at spreadbetting IG Group

The spreadbetting company IG Group has cause to be pleased with its performance, having posted a solid six month result that saw EBITDA soar 34% to £81 million (HY 2008 £60.2 million) and an increase in its UK customer base of 29%.

A company spokesman said that the results were mainly due to strong growth Australia, continental Europe and Singapore, with the UK producing impressive results as well.

Trading revenue rose 14% to £143.8 million over the six months, and the EBITDA margin was well up on the same period previously, reaching 56.4% (2008: 47.4%). Re-tax profit was up 34%, reaching £78 million.

"IG has again delivered record results with strong growth in both revenue and profits," said CEO Tim Howkins. "We continue to experience strong levels of activity and account opening, both in the UK and overseas, where our expansion continues. All our markets have great potential and IG is well positioned to deliver further growth."

Howkins reported that the company's South African subsidiary, IG Markets South Africa, is due to expand after acquiring marketing data from another company.

Source: InfoPowa News