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04 Jun 2020 | 07:40

IG Group FY trading revenue set to rise amid increased volatility

(Sharecast News) - Online trading platform IG Group said on Thursday that full-year trading revenue is expected to be higher than last year as it continues to benefit from increased volatility due to the coronavirus pandemic. IG said that since its update in April, financial market volatility has remained elevated and it has continued to see high levels of client trading activity. Net trading revenue in the fourth quarter is now expected to be around £259m, up from £117.9m in the same period a year ago, with full-year net trading revenue set to rise to approximately £649m from £476.9m.

"As previously announced, the group has successfully implemented its comprehensive business continuity plan in response to the Covid-19 virus. The group's ongoing investment in communications and infrastructure has enabled all employees to work safely from home, and IG will continue to invest in technology in order to provide the best possible service for our clients."

IG said it will take a cautious approach in returning to its offices around the world, in keeping with the guidance of local governments.

The company's full-year results are due on 23 July.
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