Ig Share Discussion Threads

[miata] 13/12/2011 09:05

13 Dec IG Group Holdings... IGG Numis Buy 465.30 616.00 616.00 Retains

13 Dec IG Group Holdings... IGG Oriel Securities Add 464.00 - 500.00 Reiterates

13 Dec IG Group Holdings... IGG Peel Hunt Hold 465.30 - - Reiterates

13 Dec IG Group Holdings... IGG Singer Capital Markets Buy 465.30 540.00 540.00 Reiterates

[jgoold] 13/12/2011 08:46

Analysts consensus on Digital Look is for revenue increase of only 3%. Could be a significant re rating here.

[mr.oz] 13/12/2011 07:18

IG GROUP HOLDINGS PLC

Pre-close Trading Update

IG Group Holdings plc ("IG" or the "Group") issues the following trading update relating to the six months ended 30 November 2011. Unless otherwise stated trends and figures highlighted below relate to this period and the corresponding period last year.

The Group expects to report revenue of £195.6m, an increase of 25% from £156.7m reported in the comparative period. Excluding the Group's Sports business, which was closed during the period, the Group achieved like-for-like revenue growth of 28%. This strong growth in the Group's financial business was driven by a 15% increase in active clients and an 11% increase in revenue per client.

Equity market volatility spiked up sharply in early August before settling back somewhat, while remaining higher than in the previous year. Trading conditions during Q2 were less exceptional than those in August, which was a record revenue month for the Group. Revenue in the second quarter for the Group's financial business was up 26%, driven by a 13% increase in active clients and an 11% increase in revenue per client.

The Group's underlying performance was again driven by continued growth in the UK as well as strong growth in revenue and active client numbers in its international markets of Europe, Australia and Rest of the World.

PBT margin for the period was ahead of the previous financial year, reflecting that costs, other than performance related bonuses, are largely fixed in the short term. Management considers that investment in IT and marketing capability has played a significant part in the growth of both active clients and revenue per client in the current period and that continued investment will further drive long term growth. The Group is therefore currently recruiting in both IT and marketing and the impact of this investment will result in a full year margin closer to that achieved in the prior year.

[mr.oz] 11/12/2011 20:53

Trading Statement Tues

[miata] 06/12/2011 20:26

That LT enough?

[mr.oz] 06/12/2011 20:15

fancy putting a LT chart in the header MIATA?
good show right now across the pond on the back of the FT article

[miata] 06/12/2011 20:06

31-May-11 353.25 7.05 32.93p 13.6 2.3 +6% 20.00p 4.5%
IGG Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-May-12 363.95 187.92 37.88p 12.8 0.9 +15% 22.09p 4.6%
31-May-13 379.88 199.07 40.23p 12.0 1.9 +6% 23.72p 4.9%


Date Broker name New Price Old price target New price target Broker change
29-Nov-11 Evolution Securities Buy 474.00p 530.00p 550.00p Reiteration
29-Nov-11 Prime Markets Buy 474.00p - - Reiteration
23-Nov-11 Singer Capital Markets Buy 420.00p 540.00p - Reiteration
14-Nov-11 Singer Capital Markets Buy 445.20p 540.00p - Reiteration

What The Brokers Say
Strong Buy 10
Buy 2
Neutral 1
Sell 0
Strong Sell 0
Total 13

[mr.oz] 06/12/2011 19:03

toppy? brokers suggest not

[miata] 29/11/2011 17:49

29 Nov IG Group Holdings... IGG Numis Buy 474.00 616.00 616.00 Retains

[ronjen] 29/11/2011 17:42

IG Group: 29th Nov - Evolution Securities raises target from 530p to 550p, buy rating retained

[miata] 29/11/2011 15:05

Merrill:

IG Group has released a brief unscheduled trading update indicating that H1
revenue will be "in excess" of £193mn, up over 23% year-on-year and 11%
ahead of our estimate of £174mn. This implies Q2 revenue of over £93mn, down
only modestly from £100mn in Q1 as the company has continued to benefit from
high levels of client activity given the context of elevated market volatility.

Costs are tracking in line with management expectations. We note that the company
has previously guided that PBT margins will be broadly flat this year reflecting
ongoing investment in its technology and mobile offerings. We expect revenues to
moderate as volatility subsides but anticipate making low to mid single digit
percentage upgrades to our full year EPS forecasts reflecting the strong H1
performance.

We retain our Buy rating and price objective of 510.

Investec:

IG has put out an unscheduled trading statement: H1 revenues will now
exceed £193m. This is c. 6% ahead of our expectations and represents c. 23%
growth. There is no data on KPIs, though more detail will be provided on 13
December. While continued volatility will undoubtedly be a key driver, we
believe 'higher quality' customer growth should also be impressive. We are
upgrading FY12E PBT and EPS by 5.4% at this stage. We reiterate our 625p
DCF-based TP and BUY recommendation.

We do not see upgrade momentum in the rating. IG Group rarely commands a
premium rating despite consistent growth and upgrades. We believe the issues of Japan, bad debt and managing low volatility have receded, while International
growth is gathering operational momentum (on a solid and growing UK base).

We see the stock advancing on upgrades in the medium term, while also deserving a re-rating in the longer term.

We reiterate our 625p DCF-based TP, suggesting 49% TSR upside – BUY.

[santar] 29/11/2011 07:35

Trading update:

IG Group Holdings plc (the "Group") issues the following trading update in respect of its first half ending 30 November 2011.

Following on from a strong first quarter, the Group has continued to experience high levels of client activity during the second quarter of its financial year. As a result, the Group currently expects that it will achieve revenues in excess of GBP193.0m for the first half, compared to GBP156.7m in the corresponding period for the prior year. This would represent growth of at least 23%. Costs have been in line with management's expectations.

Another strong result :)

[miata] 13/9/2011 12:05

13 Sep IG Group Holdings... IGG Numis Buy 436.00 616.00 616.00 Retains

13 Sep IG Group Holdings... IGG Espirito Santo Execution Noble Neutral 436.00 402.00 402.00 Retains

13 Sep IG Group Holdings... IGG Charles Stanley Add 436.00 515.00 515.00 Reiterates

[zoolook] 07/9/2011 12:41

XD today but only dropped on early trading and down only 3.7p now.

Payout is 14.75p per share.

[miata] 22/8/2011 11:46

IG Group Holdings plc (the "Group") has benefited from record levels of client activity in the recent market volatility, despite it being holiday season in the majority of the countries in which the Group operates. As a result, the Group currently expects that it will achieve revenues in excess of GBP94m for the quarter ending 31 August 2011, compared to GBP79.1m in the corresponding period in the prior year. This would represent growth of at least 19%. Costs have been in line with management's expectations.

The Group's credit management processes have proved robust and it is anticipated that the doubtful debt charge for the quarter will be less than 1% of revenues for the quarter.

The Group will publish its Interim Management Statement on 13 September 2011.

[miata] 17/8/2011 11:57

Dipped today on Sarko financial tax proposal:

We believe it may be difficult for IG to relocate its European trade. It is possible for the trades to be sent to a computer outside the tax zone but we see that this path could be blocked by the authorities. The percentage gap between the cheapest and most expensive trading venues will decline proportionately to the cost of the tax. At this point service, execution and all the other advantages IG holds over its competitors become more of a differentiator. Volumes have historically proved to be very price sensitive and while we believe IG would be able to pass the tax onto its customers volumes would be expected to be negatively impacted.

[miata] 17/8/2011 11:55

DIVIDENDS Sell on or after the Ex Date and you get the dividend
Announced Type.Div..Ex Date..Pay Date
17/07/12 Fin 16.75p 19/09/12 23/10/12
15/01/13 Int 05.75p 23/01/13 26/02/13
23/07/13 Fin 17.50p 18/09/13 22/10/13
14/01/14 Int

[spob] 05/8/2011 10:55

btw all threads now have a skip header button as a standard feature if you look for it

[spob] 05/8/2011 10:53

see red box top right corner

[anresu] 05/8/2011 10:18

A "skip header" button would improve this board greatly

[spob] 04/8/2011 15:00

volatility good for igg

but then the market starts to worry about margin call defaults

cant win sometimes

lol

[spob] 20/7/2011 23:13

Mixed year for IG Group
Created:19 July 2011Written by:John Hughman

Investors Chronicle

A detailed trading update in June meant there were few surprises in IG Group's results, but a surprisingly positive report on current trading meant the shares began to recover some of the ground lost over the past six months.

The spread betting group said that revenues in the first few weeks of the current financial year were up despite substantially lower levels of market volatility. But with the European sovereign debt crisis still far from resolved, volatility is rising once again, which is good news for IG. Last year saw significant increases in levels of client activity in months where the Vix volatility index spiked, particularly in March 2011 which was a record month for the group, reflecting the impact of the Japanese tsunami.

Generally lower volatility also meant lower average revenues per customer last year, offset by an 11.3 per cent increase in active customers, who also increased cash balances by 29.8 per cent. However, rising volatility increases the likelihood of that cash being deployed, which should drive higher revenue growth this year.

Broker Numis Securities expects current year underlying EPS of 35.4p (from 32.6p last year).


IG GROUP HOLDINGS (IGG)

ORD PRICE: 428p MARKET VALUE: £1.55bn
TOUCH: 427-428p 12-MONTH HIGH: 409p LOW: 560p
DIVIDEND YIELD: 4.7% PE RATIO: na
NET ASSET VALUE: 105p* NET CASH: £125m



Year to 31 May Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2007 122 69 14.7 8.5
2008 184 97 20.6 12.0
2009 257 111 22.4 15.0
2010 299 140 28.2 18.5
2011 320 7 -7.1 20.0
% change +7 -95 - +8
Ex-div: 7 Sep

Payment: 11 Oct

*Includes intangible assets of £117.2m, or 32p a share



Guide to the terms used in IC results tables.

More analysis of company results


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IC VIEW:
GoodValueIG's share price has fallen steadily over the past year, after hefty write-offs in its Japanese business, which depressed reported profits and EPS in our table, and concerns about a soft trading environment. But the underlying business is strong and, on a forward PE ratio of 12, the shares are good value.

Last IC view: Good value, 440p, 10 June 2011