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IG Group Holdings plc has reported a robust financial performance for the first half of the current fiscal year, ending November 30, 2024. The company achieved a 30% increase in adjusted profit before tax, totaling £266.8 million, driven by supportive market conditions and reduced costs. Total revenue rose to £522.5 million, reflecting an 11% year-on-year increase, while net trading revenue also saw a significant boost of 12%, reaching £451.7 million due to increased revenue per client. The statutory profit before tax climbed 41% to £249.3 million, contributing to an improved margin of 51.1%.
Additionally, IG Group has been actively engaging in share buybacks; since September 25, 2024, it has repurchased a total of 7,449,809 shares for approximately £69.27 million. Recent transactions included the purchase of 99,963 shares at an average price of 1,016.6175p and 10,109 shares at an average price of 1,018.4519p. The company now holds 7,449,809 shares in treasury, with a total of 354,108,059 ordinary shares in issue (excluding treasury shares). Furthermore, there was also a notable development regarding executive compensation, as Clifford Abrahams, the new CFO, received conditional buy-out awards linked to his appointment.
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