IG Group full revenue to slip one per cent

11th Jun 2013 08:35

Interdealer broker IG Group said fourth quarter revenue is expected to be eight per cent ahead of the prior year while revenue for the full year is expected to decline one per cent.The group said trading revenue of £104.3m is expected for the final quarter of the year compared to £96.2m, bringing full year revenue to £361.9m, down 1% from the full year before. It added that stronger second half revenue is expected and one-off items of £4m will positively impact pre-tax profit. IG Group said increased investment planned in the full year 2014 is expected to drive future growth."IG's ongoing investment in technology and brand, coupled with its market leadership and strong financial position leave it well positioned for the future growth in its global markets," it said in a statement.It shares fell 2.8% to 573.50p at 10:00 in London.CJ