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IG Group - Big rise in account openings

September 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • IGG
  • Price:
  • 333p
Financial spread betting group IG has shrugged off the bad debt issues that plagued it early in the year by announcing strong final results for the year to 31 May with turnover ahead 40% to £257m and pretax profit rising 30% to almost £126m. Eps rose 22% to 24.7p. This performance was driven by a 44% increase in the number of accounts opened and a 57% rise in the number of clients dealing although a change in the business mix meant average revenue per client fell 19% to £2495. There was good growth in its largest market in the UK where revenues increased 10% to £147m, while Europe nearly doubled to £39.5m and Asia Pacific rose 140% to £65.5m, helped by a first-time eight-month contribution from FXOnline Japan of £28m. Meanw ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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