As asserted in the results, IG Group’s net trading revenue attained £853.4 million in FY21, which is 31% higher than FY20. The whole number of active clients reached 313,300 in FY21. In FY20, the company recorded 239,600 active clients.
IG Group noticed a substantial increase in profit before taxation as the amount entered £450.3 million, which is 52% greater than FY20. Additionally, the broker managed significant capital throughout the latest financial year.
Reflecting on the recent announcement, June Felix, Chief Executive Officer at IG Group, stated that he is thrilled to announce a record-breaking performance for the Group. He added that the extraordinary fulfilment of the revenue point for their Significant Opportunities portfolio one-year advanced plan. This record position of results has been performed during a global epidemic.
It is a testament to their people’s hard work and commitment, the long-standing investments in building their technology flexible, and the strength of their client offering.
In Q3 FY21, IG Group posted a substantial extension in revenue and the total amount of active clients.
Acquisition of Tastytrade
In June 2021, IG Group performed the purchase of Tastytrade. The broker is preparing to expand its appearance in the US market through the newest addition. IG Group emphasized that the trading and current client acquisition at Tastytrade remained strong in the calendar year before the deal completion.
Following a continued solid acquisition, high demand, and new client retention, IG now services a considerably larger client base. This presents a quality asset going into FY22. Now, they consider that they are in a more significant position than ever before.
They have published revised and improved growth guidance. It reflects their outperformance in FY21, strategic procurement of Tastytrade, and the status of client proposition. This placed them in a position of power to proceed to deliver sustainable value for shareholders, Felix replied.