IG Group sees total trading revenue increase of 5% to £1 billion in FY 23

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="IG Group" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes.jpg 880w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/12/IG-Group-volumes-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>Charlie Rozes, Acting Chief Executive Officer, commented:</p>
<div><img aria-describedby="caption-attachment-449934" decoding="async" class=" wp-image-449934" src="https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218.png" alt="Charlie Rozes, IG Group" width="115" height="115" srcset="https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218.png 263w, https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218-250×250.png 250w, https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218-150×150.png 150w, https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218-120×120.png 120w, https://www.leaprate.com/wp-content/uploads/2023/07/Charlie-Rozes-e1689837831218-245×245.png 245w" sizes="(max-width: 115px) 100vw, 115px" /><p>Charlie Rozes</p></div>
<blockquote><p>We’ve performed well in the much more difficult market conditions that persisted through most of the past year, maintaining our leadership position in OTC derivatives while building further momentum in our product and geographic expansion. Total revenue exceeded £1 billion for the first time in IG’s history, more than double our revenue in FY19 when we launched the strategy, while consistently achieving strong profit margins. A notable highlight has been our progress in the US, with the strong growth of tastytrade driving total revenue of £191.3 million, also an all-time high for IG.</p></blockquote>
<p>According to the numbers, basic earnings per share (EPS) stood at 86.9 pence, compared to 92.9 pence. On adjusted basis, EPS came in at 94.7 pence from the previous year’s 96.3 pence.</p>
<p>The official announcement further detailed that the number of total active clients was slightly down <a href="https://www.leaprate.com/forex/brokers/ig-group-sees-16-increase-in-revenue-in-fy22/" target="_blank" rel="noopener">from the previous year</a> at 358,300 from 381,500, however the numbers remained more than double pre-pandemic levels.</p>
<p>Rozes added:</p>
<blockquote><p>Looking ahead, we’re well positioned to continue investing for growth given the strength and consistency of our cash flow and balance sheet. We keep a close watch on profit margins and in FY24 will continue to look for opportunities to achieve even greater cost efficiency. We’re the home of active traders worldwide, and we are building a more sustainable, long-term business that delivers for all stakeholders.</p></blockquote>
<p>Earlier in July, IG Group revealed that its Chief Executive Officer, June Felix., is taking a temporary medical leave and in her absence, <a href="https://www.leaprate.com/forex/executives/ig-cfo-charlie-rozes-becomes-acting-ceo/" target="_blank" rel="noopener">Charlie Rozes</a>, the current Chief Financial Officer (CFO), will assume the role of Acting CEO.</p>
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