Financial Spreadbetting: IG Group reports a 40 percent rise in revenues

The UK financial spread betting company IG Group has reported revenues up 40 percent at GBP 257.1 million in the year ended 31st May 2009.
EBITDA was up 33 percent at GBP 131.1 million, compared to GBP 98.5 million the prior year, and adjusted EPS was up 22 percent at 24.74p (2008: 20.28p).
Investors will be pleased with the firm's announcment that it is to pay a final dividend of 11p per share, making a total dividend of 15p per share for the year, up 25 percent.
The report revealed that new financial account openings were up 74 percent at 74 331 in the period and current trading was strong.
"IG has again delivered excellent growth," Tim Howkins, CEO, said. "We have made encouraging progress in each of our newer offices and they all have scope for significant further expansion. Alongside our direct offering to retail clients we also continue to develop our network of introducers and white label partners. The Group is in good health, with a strong competitive lead and I remain confident about the prospects for the coming year."