IG Group Holdings plc shares up almost 50% in year to March 2018

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Shares in financial spread betting brokers IG Index have risen considerably over the past year. On 17 March 2017 shares stood at 539.00, reaching a high of 733.00 by 15 December 2017, while prices for 2018 started around 729.00 on 2 January and have shown an upwards trend to reach 789.00 by 8 March. This is good news for shareholders and flies in the face of news headlines in December 2017 which reported that shares in financial spread betting brokers had plunged due to a potential crackdown on spread betting by the EU.

The IG Group issued its Interim Results at the end of January and highlighted a number of developments. IG Group Holdings is owned by the private equity firm, CVC Capital and spread betting is its core business, although clients can also trade CFDs and FX. More than 85% of the firm’s client transactions are conducted online.

IG Group Holdings Interim Results

The Interim Results announced by spread betting brokers IG Group Holdings plc showed an increase of 10% in net trading revenue, which was up to £268.4 million. Pre-tax profits stood at £136.2 million, a rise of 29%. An interim dividend was declared at 9.69p per share. The company advised they had taken action to position the business so it continues to deliver if a more restrictive regulatory environment is enforced. They also announced they are making headway with plans to launch a multi-lateral trading facility in Europe and have filed an application to develop a subsidiary trading in the US OTC FX market in the United States, with a further application filed in Germany to establish a subsidiary in response to the UK’s decision to exit the EU.

The steady upward growth of almost 50% in the value of IG Group Holdings plc has been marked by a number of slumps, however, overall growth has maintained increases which is doubtless due to increases in company revenue. It remains to be seen whether proposed EU legislation on CFDs and binary options will have a marked effect on the long term share price of the business.

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