UK IG Group sees annual revenue and earnings in line with…

UK IG Group sees annual revenue and profit in line with market outlook

March 15 (Reuters) – British online trading platform IG Group on Wednesday forecast its annual revenue and profit in line with market expectations, as the Ukraine crisis and the collapse of a Silicon Valley bank fueled market volatility and boosted trading volumes.

Trading platforms, which saw a rebound in volumes and customer activity levels last year with the Ukraine war and increased risks of a global recession, are also set to benefit in the wake of the Silicon Valley bank collapse.

IG, set up by spread betting pioneer Stuart Wheeler in 1974 to allow people to bet on the price of gold, said its active customer numbers for the third quarter are down 5% at 335,400 years to date, reflecting the quieter market conditions in the period.

The London-listed company said total revenue to date from continuing operations was 758.4 million pounds ($921.7 million), compared to 722.7 million pounds a year earlier.

($1 = 0.8228 pounds)

(Reporting by Abi Jose Quelparambil and Cenchita Mitra in Bengaluru; Editing by Sherry Jacob Phillips)

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