Strong end to year but IG remains wary
Tuesday 11 June 2013
Falling gold prices, Abenomics and the EU-IMF bailout of Cyprus proved a boon for IG Group in the fourth quarter as revenues rose 8 per cent.
The spreadbetting group said customers lined up to have a flutter on the markets as they came to life in the three months ending 31 May, boosting revenues to £104.3m. IG said this is likely to feed through to higher profits when it posts its full year numbers on 23 July.
Despite this, IG's shares fell 6.5p to 583.5p as it warned operating costs were likely to be higher in 2014. This is being driven by the need to invest more across its global business and an increase in the levy it needs to pay the Financial Services Compensation Scheme. The group warned that the investment was unlikely to feed through to revenues this year.
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