IG Group's COO more than halves stake

24th Sep 2012 16:35

Peter Hetherington, the Chief Operating Officer of spread betting firm IG Group has more than halved his stake in the company just a fortnight after it reported a decline in first quarter revenue, as it ran up against strong figures from a year earlier, when markets were particularly volatile. Hetherington earned £705,642 from the transaction, in which he sold 156,012 shares at 452.30p a go. He now hold 100,000 shares. In its quarterly results, the firm said revenue in the three months to the end of August - the first quarter of the group's financial year - was in line with expectations at £81.5m, 18% lower than the prior year figure of £99.6m. The group's major market is the UK, and here revenue was down 21% to £41.1m. The number of active clients in the UK was down 16% and revenue per client was 6% lower year-on-year (y/y). The group said it continued to face tough comparatives at the start of the second quarter, with September 2011 the second highest revenue month in the history of the company. It anticipates that revenue this year will, as in most years, be weighted towards the second half.Despite a volatile 12 months, the share price is just 2.66% higher than it was at the same date a year ago, having risen almost 24p in the past month. Top Director BuysLondon Mining (LOND) Director name: Sir Nicholas BonsorAmount purchased: 50,905 @ 182.50p Value: £92,902Invesco Leveraged High Yield Fund Ltd. (ILH) Director name: Mr Peter YatesAmount purchased: 100,000 @ 60.75p Value: £60,750London Mining (LOND) Director name: Mr Graham Edward MascallAmount purchased: 30,543 @ 182.50p Value: £55,741InterQuest Group (ITQ) Director name: Mr Gary AshworthAmount purchased: 75,000 @ 37.00p Value: £27,750InterQuest Group (ITQ) Director name: Mr Mark BraundAmount purchased: 74,000 @ 37.00p Value: £27,380Stilo International (STL) Director name: Mr David AshmanAmount purchased: 500,000 @ 3.80p Value: £19,000Top Director SellsIG Group Holdings (IGG) Director name: Mr Peter G HetheringtonAmount sold: 156,012 @ 452.30p Value: £705,642Nasstar (NASA) Director name: Lord Lord DaresburyAmount sold: 1,100,000 @ 10.25p Value: £112,750Keller Group (KLR) Director name: Mr Gerry BrownAmount sold: 7,840 @ 524.20p Value: £41,097InterQuest Group (ITQ) Director name: Mr Michael JoyceAmount sold: 50,000 @ 37.00p Value: £18,500InterQuest Group (ITQ) Director name: Mr Alan FoundAmount sold: 50,000 @ 37.00p Value: £18,500Heavitree Brewery 'A' Shares (HVTA) Director name: Mr Graham J CrockerAmount sold: 7,272 @ 192.50p Value: £13,999NR