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IG Group's revenue falls 3.8 pct on weakness in UK, Ireland
March 23, 2017 / 7:33 AM / 9 months ago

IG Group's revenue falls 3.8 pct on weakness in UK, Ireland

March 23 (Reuters) - IG Group Holdings Plc, a British online trading company, reported a 3.8 percent fall in quarterly revenue as it earned less per client, especially in the United Kingdom and Ireland.

The company, which provides online stockbroking and trading services to retail investors, said revenue fell to 117.4 million pounds ($146.84 million) for the three months ended Feb. 28, from 122 million pounds a year earlier.

Average revenue per client fell 15 percent with the United Kingdom and Ireland down 23 percent, partly as current clients traded less, IG said.

However, IG’s active client numbers rose 13 percent in the quarter.

The company, which was founded in 1974 as the world’s first spread-betting firm, said the fourth quarter had started better and that client recruitment remains strong. ($1 = 0.7995 pounds) (Reporting by Arathy S Nair in Bengaluru; Editing by Sunil Nair)

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