IG Group is boosted by the high-rolling short-term punters
Friday 15 June 2012
City investors might be sitting on their hands, too afraid to dip into markets that are fractious and tough to call.
But for the hardy retail punters at IG Index, stock-market turmoil and the eurozone crisis are opportunities to look for quick profits.
Its parent IG Group, the biggest spread-betting house, yesterday reported a 17 per cent rise in year-end revenues to £367m. In the UK, those sales are up 15 per cent to £192m, largely driven by more trading from the same high-rolling clients.
The chief executive Tim Howkins said: "In the last 18 months we've been focused on recruiting a smaller number of better-quality clients."
What do they know that the large institutions do not?
"The difference is the time horizon," Mr Howkins said. "The average professional is investing long term. Our clients are trading short-term trends."
The City expects the company to make profit for the year of about £185m.
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 5 Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...