IG Group Reports 16% Increase in Net Trading Revenue in H1 FY22

IG Group Holdings plc (IG), a purpose-led global financial technology business, today announces its results for the six months ended 30 November 2021 (H1 FY22), showing a strong performance across the all of the company's businesses.

According to the company, net trading revenue increased 16% to £471.9 million. Excluding the foreign exchange hedging gain associated with the financing of the tastytrade acquisition, adjusted net trading revenue increased 14% to £466.1 million.

Profit before tax increased 8% to £245.2 million, while adjusted profit before tax increased 13% to £258.0 million.

Active clients increased 42% to 320,400 reflecting the acquisition of tastytrade; 53,600 new clients acquired, lower than FY21, as anticipated in less volatile market conditions, but significantly higher than pre-pandemic client acquisition.

Client retention rates have remained consistent with historical averages, reflecting the high quality of clients onboarded in previous periods. Total operating costs increased 22% to £223.3 million Adjusted total operating costs increased 13% to £205.7 million.

Profit before tax margin for the first half was 52.0%. Adjusted profit before tax margin was 55.3% and basic EPS was 48.1 pence. Adjusted basic EPS was 50.6p. Interim cash dividend of 12.96 pence per share.

June Felix, Chief Executive, commented:"This has been a period of outstanding performance with record revenues and profits. 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."