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IG Group Forecasts a Flat Revenue in Its H1 as Core Markets Suffer

Spread contracts and Betting for difference operator IG Group expects revenues its first half of 2020 to match that of 2019, despite a decline in revenues of its core market.

Revenue for the last six months before 30th of November last year reached £251 million; however, IG Group stated that the period profited from the two months of business before the European Security’s market authority came into full force

Revenues from core markets of the FY 2020 is expected to reach £210 million, a 6 percent decline from that of 2019. IG Group stated that it improved the quality and size of its clients in the territories they operate in during their H1.

On average, the core business has served over 78500 with regards to over the counter leverage clients each quarter in its core markets in the first half, with 4 percent more than the average of the second, third as well as fourth quarters of 2019.

The provider is yet to post its full report covering the last six months on the 21st of 2020. When posting its FY 2019 numbers this past July, the firm posted a 16 percent drop because of the impact the ESMA measures have had on the market.

Source: https://www.igamingbusiness.com/news/ig-group-projects-flat-h1-revenue-core-markets-struggle

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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