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IG Group reports 5% Y/Y rise in FY23 revenues
Electronic trading major IG Group Holdings plc (LON:IGG) today posted its financial results for the financial year to end-May 2023. Total revenue of £1,022.6 million was up 5% on prior year. IG’s performance reflected two important factors. First, the company broadly maintained its levels of trading revenue and avoided the sharp decline following the pandemic as seen by many others in the industry. Second, it capitalised on the interest rate cycle and drove significant increases in interest income. OTC derivatives net trading revenue of £782.0 million, was down 4%, reflecting a 5% reduction in active clients ... (full story)