IG still in black despite first slip for 10 years
Tuesday 15 January 2013
The spread-betting industry leader IG Group has reported its first slump in revenues and profits since 2002, a sign of the wider strife in the sector.
With rivals struggling to break even, IG is still in the black, but half-year profits fell 21 per cent to £81m. Tim Howkins, the chief executive, blames "low market volatility" and "fragile consumer sentiment", while noting that IG remains hugely cash-generative.
Trading revenues were down 14 per cent at £169m, though IG's share of the UK market is still growing at 44 per cent. IG held the interim dividend at 5.75p. The shares, which peaked at about 550p in early 2011, today fell 5.3p to 462.4p, valuing the company at £1.7bn.
Mr Howkins' ambition is to get IG into the FTSE 100 index.
- 4 Women think Irish men are the sexiest, survey finds
- 5 Florida couple forced to register as sex offenders for having sex on public beach
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for in the general election? Take The Independent's interactive quiz to find out which party is the right choice for you
Florida couple forced to register as sex offenders for having sex on public beach
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Jason Derulo falling over in epic fashion, the event's most talked about moment, wasn't what it seemed
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...