Operating and Financial Summary
Solid and consistent performance in the first half
Net trading revenue(1) up 8.8% at £214.8 million
Administrative expenses up 18.7%, reflecting ongoing investment in future growth
Profit before tax down(2) 2.8% to £98.6 million
Diluted EPS down 2.5% at 20.91 pence
£87.2 million of own funds(3) generated from operations, flat on prior year
Interim dividend of 8.45 pence per share, in line with dividend policy
New client numbers, defined as first trades, ahead of prior year by 35%, with a stable runrate
Continued steady growth in Stockbroking client numbers
Switzerland and Dubai offices performing in line with expectations
Significant progress made in improving client onboarding process
Peter Hetherington, Chief Executive, commented:
"I am delighted to present my first set of half year results as Chief Executive of IG. The business continues to perform well and I am pleased with the progress on the strategic initiatives we are investing in to underpin the future growth of the Company. During my time here, IG has grown from a small phone-based UK trading company with around 25 employees, to a global leader in online trading with over 1,400 employees in 20 countries. But, as much as I am proud of the past, I am more excited about the future. Building on our strong operational and risk management capabilities, we are driving continuous improvement and value from the current business. At the same time, we are laying foundations for broadening the IG offering, to take advantage of supportive macro trends in financial behaviour, by leveraging the market-leading platform we have built."
