IG Group (LON: IGG) reported total revenue of £522.5 million for the first half of fiscal 2025, ending on 30 November 2024, marking a year-over-year increase of 11 per cent. Its net trading revenue for the same period rose by 12 per cent to £451.7 million.
The latest financial update from the London-headquartered broker also revealed that net income remained steady at £70.8 million, as higher client money balances offset the impact of lower interest rates.
The broker achieved a 30 per cent rise in adjusted pre-tax profits to £266.8 million, reflecting a profit margin of 51.1 per cent, compared to 43.5 per cent in the same period of the previous fiscal year. Additionally, statutory profit before taxes increased by 41 per cent to £249.3 million.
Another Buyback
IG had previously indicated plans to extend its ongoing share buyback programme. It has now confirmed an additional £50 million for the existing £150 million buyback, bringing the total to £200 million.
The entire buyback programme is expected to conclude in the second half of FY25.
IG Group (LON: IGG) reported total revenue of £522.5 million for the first half of fiscal 2025, ending on 30 November 2024, marking a year-over-year increase of 11 per cent. Its net trading revenue for the same period rose by 12 per cent to £451.7 million.
The latest financial update from the London-headquartered broker also revealed that net income remained steady at £70.8 million, as higher client money balances offset the impact of lower interest rates.
The broker achieved a 30 per cent rise in adjusted pre-tax profits to £266.8 million, reflecting a profit margin of 51.1 per cent, compared to 43.5 per cent in the same period of the previous fiscal year. Additionally, statutory profit before taxes increased by 41 per cent to £249.3 million.
Another Buyback
IG had previously indicated plans to extend its ongoing share buyback programme. It has now confirmed an additional £50 million for the existing £150 million buyback, bringing the total to £200 million.
The entire buyback programme is expected to conclude in the second half of FY25.
This post is originally published on FINANCEMAGNATES.
